Temasek Acquires 10% Of 21Vianet For $100M

Beijing-based Internet data center services provider 21Vianet Group Inc. says that Singapore’s sovereign wealth fund Temasek Holdings has entered into a definitive agreement to make a US$100 million investment in 21Vianet.

After the closing of the deal, Temasek will hold approximately 10% of NASDAQ-listed 21Vianet.

Approximately 87% of the investment by Temasek will be newly issued shares and the remainder will be sold by existing shareholders.

The purchase price is US$15 per American Depositary Shares (ADS), or US$2.50 per ordinary share.

Temasek will have the right to nominate one director to 21Vianet’s board of directors after the closing.

The transaction is expected to close in October 2013, subject to customary closing conditions.

China Expert Network