Harneys advises APG relating to going-private of Chindata

Harneys acted as Cayman Islands counsel to APG Asset Management N.V. (APG) in relation to the going-private transaction of Chindata Group Holdings Ltd. (Chindata), a leading carrier-neutral hyperscale data centre solution provider in Asia-Pacific emerging markets.

Bain Capital will acquire all of the outstanding shares of Chindata along with certain existing and new investors. The transaction is currently expected to close in the fourth quarter of 2023 or the first quarter of 2024 and is subject to customary closing conditions, including approval by Chindata's shareholders.

The going-private transaction was led by Harneys Hong Kong Partners Alan Au and Ian Mann. We worked closely with Davis Polk & Wardell, who acted as the US legal counsel to APG in the transaction.

APG Asset Management is one of the largest pension investors in the world and a leading global long-term investor, managing in total a value of approximately €538 billion.

The Corporate team at Harneys advises on complex cross-border transactions involving the British Virgin Islands, Cayman Islands, Bermuda, Luxembourg, and Cyprus corporate vehicles. The team’s significant track record includes advising on high-profile private equity transactions, landmark IPOs, public and private M&A, and joint ventures. The firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the New York Stock Exchange, NASDAQ, the London Stock Exchange, AIM, the Hong Kong Stock Exchange, the Shanghai Stock Exchange, and the Luxembourg Stock Exchange.