Aug 11 (Reuters) - Chindata Group said on Friday it would go private in a sweetened $3.16 billion deal with investor Bain Capital, ending months of uncertainty over the future of the Chinese data center operator that also received interest from China Merchants Group.
It also marks a premium of about 43% to the closing price of Chindata shares before the initial approach was made public.
U.S.-listed shares of Chindata, which operates data centers in China, India and Southeast Asia, rose 3% after the bell.
Data centers operators have enjoyed a surge in demand in recent years as more businesses take to the web.
The go-private deal announced on Friday will be funded through a combination of cash and debt financing provided by Shanghai Pudong Development Bank, Chindata said.
Persons:
Chindata, Manya Saini, Shinjini
Organizations:
Chindata, Bain Capital, China Merchants Group, Nasdaq, China Merchants Capital, Shanghai Pudong Development Bank, Thomson
Locations:
U.S, Chindata, China, India, Southeast Asia, Bengaluru