Hillhouse, STT GDC To Invest In GDS Holdings - Quick Facts

(RTTNews) - GDS Holdings Limited (GDS) announced that two long-term investors, Hillhouse Capital and ST Telemedia Global Data Centres, have agreed to purchase, through a private placement, a total of $505 million of newly issued class A ordinary shares of the company at a price equivalent to $65 per ADS. Following the equity investment, Hillhouse's ownership position in GDS will be approximately 3.9% and ST Telemedia will be approximately 34.2%. The company anticipates to close the deal in the next few days.

GDS will use the proceeds from the investment for its organic data center development, potential acquisition opportunities, and other general corporate purposes.