Temasek commits $100m in China 21Vianet
Temasek Holdings has invested $100 million in 21Vianet Group, a US-listed Chinese carrier-neutral internet data center services provider, for about a 10% stake.
According to a regulatory filing, about 87% of the investment will be newly issued ordinary shares and the remainder will be ordinary shares sold by existing shareholders. The purchase price is $15.00 per American Depositary Share.
"21Vianet can better leverage Temasek's extensive telecom industry connections, know-how and investments, allowing us to connect with their existing portfolio of companies and further expand our business opportunities going forward," said Josh Chen, co-founder, chairman and CEO of the company.
The transaction is expected to close this month. Temasek also has the right to nominate one director to 21Vianet's board.
21Vianet provides hosting, network management, cloud infrastructure, and content delivery network services.
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