21Vianet Group Forms a Special Committee to Review the Going-Private Proposal
BEIJING, June 16, 2015 (GLOBE NEWSWIRE) – 21Vianet Group, Inc. (Nasdaq:VNET) (“21Vianet” or the “Company”), a leading carrier-neutral Internet data center services provider in China, today announced that in response to the preliminary non-binding proposal dated June 10, 2015 (the “Proposal”) from Mr. Josh Sheng Chen, the Chairman and Chief Executive Officer of the Company, Kingsoft Corporation Limited and Tsinghua Unigroup International Co., Ltd. (collectively, the “Buyer Group”) that the Company’s board of directors (the “Board”) received, the Board has formed a special committee of independent directors (the “Special Committee”) to review and evaluate the Proposal.
The Special Committee is composed of Mr. Yoshihisa Ueno, Mr. Kenneth Chung-Hou Tai and Mr. Steve Zhang, who are independent directors of the Company and are unaffiliated with the Proposal. Mr. Ueno will be the chairman of the Special Committee. The Board also expects that the Special Committee will retain independent advisors, including independent financial and legal advisors, to assist it in this process.
The Company cautions its shareholders and others considering trading its securities that neither the Board nor the Special Committee has made any decision with respect to the Company’s response to the Proposal. There can be no assurance that any definitive offer will be made by members of the Buyer Group or any other person, that any definitive agreement will be executed relating to the proposed transaction, or that the proposed transaction or any other transaction will be approved or consummated.