A transaction could value Chindata’s China business at about 30 billion yuan (US$4.2 billion or $5.39 billion), the people said. ByteDance Ltd., the Chinese owner of TikTok, is a key client of the firm’s data centres in China.
The China data centre business owned by Bain Capital’s Chindata Group Holdings Ltd. has drawn interest from local bidders seeking to expand in the sector to tap a boom in artificial intelligence, according to people familiar with the matter.
Range Intelligent Computing Technology Group Co., a Chinese data centre services provider that’s considering a second listing in Hong Kong, is among firms that have recently submitted binding bids for the assets, the people said, asking not to be identified because the deliberations are private.
