21Vianet Announces US$388 Million Investment From Tus-Holdings
BEIJING, May 23, 2016–21Vianet Group, Inc. (Nasdaq: VNET) (“21Vianet” or the “Company”), a leading carrier-neutral internet data center services provider in China, announced today that Tus-Holdings Co., Ltd. (“Tus-Holdings”), a large integrated enterprise established in reliance on Tsinghua University, has, through its affiliated investment vehicle, entered into definitive share subscription agreement (“Share Subscription Agreement”) to make US$388 million equity investment in the Company .
Pursuant to the Share Subscription Agreement, an affiliated investment vehicle of Tus-Holdings will make a US$388 million investment in 21Vianet, with a share subscription price of approximately US$2.712 per ordinary share, or US$16.274 per ADS. The investment will be comprised of newly issued 31,996,874 Class A ordinary shares and 111,053,390 Class B ordinary shares. Immediately after the closing of the transaction, Tus-Holdings will, through its affiliated investment vehicle, hold approximately 21.4% equity ownership in 21Vianet, representing approximately 51.0% of the voting power. The transaction is subject to the satisfaction of customary closing conditions, with the closing expected to occur in June 2016. The investor agrees to be restricted from transferring or otherwise disposing of the newly issued shares within 180 days after closing.
“We welcome the new strategic investments by Tus-Holdings,” said Mr. Josh Chen, co-founder and chairman of 21Vianet. “We are very excited to see that Tus-Holdings, a leading enterprise engaging in fostering technological innovations and entrepreneurship, share our vision and strategy in developing a more open, more innovative, next generation cyberspace infrastructure in China. As we remain fully committed to our customer-focused value proposition, we are confident that its investments offer significant strategic value in strengthening our core operations and expanding new business opportunities.”
Mr. Jiwu Wang, Chairman of Tus-Holdings, stated, “We are excited of the strategic investment in 21Vianet as we believe the growth strategies from both Tus-Holdings and 21Vianet are highly aligned and complementary. With a strategic focus in ‘digital industries, digital cities and digital business parks,’ Tus-Holdings strives to become a leading force in building a digital economy in China with key growth engines including cloud computing, big data and Internet of Things. By sharing resources and facilitating innovation and cooperation, we believe Tus-Holdings and 21Vianet can work together to achieve that common goal. Additionally, we are confident in 21Vianet’s management team’s ability to execute its business strategies, capture growth in the internet infrastructure market and generate shareholder value over the long term.”