(Reuters) – Chindata Group said on Wednesday that investor Bain Capital has offered to take the Chinese data center operator private in a deal valuing the company at $2.93 billion.
Chindata’s shares, which have lost more than a fifth of their value this year, rose about 12% in trading before the bell.
Bain Capital’s proposal values each American depositary share of Chindata at $8, representing a premium of more than 27% to its last closing price.
The private equity firm already owns a 42.2% stake in Chindata, according to Bain Capital.
(Reporting by Akash Sriram in Bengaluru; Editing by Shounak Dasgupta)
