This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

21Vianet Announces US$100 Million Investment From Temasek

Stocks in this article: VNET

BEIJING, Sept. 30, 2013 (GLOBE NEWSWIRE) -- 21Vianet Group, Inc. (Nasdaq:VNET) ("21Vianet"), the largest carrier-neutral internet data center services provider in China, announced today that Singapore investment company, Temasek, has through its investment vehicle, entered into a definitive share purchase agreement with 21Vianet and certain shareholders of the Company.

Pursuant to this agreement, Temasek will make a US$100 million investment in 21Vianet. Approximately 87% of the investment will be newly issued Class A ordinary shares and the remainder will be Class A ordinary shares to be sold by existing shareholders. The purchase price is US$15.00 per ADS, or US$2.50 per ordinary share. Immediately after the closing of the transaction, Temasek will hold approximately 10% equity ownership in 21Vianet. Temasek will have the right to nominate one director to 21Vianet's board of directors after the closing. The transaction is expected to close in October 2013, subject to the satisfaction of customary closing conditions.

"We welcome Temasek's investment in our Company and believe that its deep expertise in Asia's telecom industry will significantly benefit 21Vianet going forward," said Mr. Josh Chen, co-founder, chairman and chief executive officer of 21Vianet. "With this investment from one of the most reputable investment companies in Asia, 21Vianet can better leverage Temasek's extensive telecom industry connections, know-how and investments, allowing us to connect with their existing portfolio of companies and further expand our business opportunities going forward. We are confident that by securing a large institutional shareholder, we further strengthen our growth trajectory and ability to generate shareholder value over the long term."

Temasek is a Singapore based investment company established in 1974. Supported by 10 affiliates and offices in Asia and Latin America, Temasek owns a S$215 billion portfolio as of March 31, 2013, mainly in Singapore and Asia. Temasek's investment themes focus on transforming economies; growing middle income populations; deepening comparative advantages; and emerging champions. Its portfolio covers a broad spectrum of industries that include financial services; telecommunications, media and technology; transportation and industrials; life sciences, consumer and real estate; and energy and resources.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs