SWFI First Read, November 2, 2016

21Vianet Group and Warburg Pincus form Data Center Venture in China

Beijing-based 21Vianet Group, Inc., the biggest carrier-neutral internet data center services provider in China, inked a deal with Warburg Pincus to form a joint venture and establish a digital real estate platform in China. The venture is targeting the development and acquisition opportunities in the wholesale and built-to-suit segments of China’s data center market. Pursuant to the venture agreement, 21Vianet will seed the platform with four existing internet data center assets, valued at over US$ 300 million, and Warburg Pincus will contribute direct capital and extensive industry network and resources in the real estate sector. Also pursuant to the deal, 21Vianet will continue to own 51% of the equity interests in the four existing internet data center assets while Warburg Pincus will own the remaining 49%. With respect to future projects to be developed by the joint venture, 21Vianet will initially own 49% of the equity interests and Warburg Pincus will initially own 51% of the equity interests.

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