China Merchants Exploring Takeover Bid for Bain’s Chindata, Sources Say
- State-owned firm studying potential bid; seeking co-investors
- Bain-backed Chindata had previously drawn takeover interests
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China Merchants Group Ltd. is exploring a takeover offer for Chinese data center operator Chindata Group Holdings Ltd., according to people familiar with the matter.
The state-owned conglomerate has been studying a potential bid for the Bain Capital-backed business, the people said, who asked not to be identified discussing information that isn’t public. China Merchants Group has reached out to prospective investors including infrastructure funds about backing a deal, the people said.