GDS Holdings Ltd. agreed to purchase all equity interests in a data center campus in Beijing's Shunyi district for a total of approximately 2.49 billion yuan.

The property, which is about eight kilometers from the company's existing Beijing 5 data center, comprises the Beijing 10, Beijing 11 and Beijing 12 facilities with 19,700 square meters total area, both in service and under construction.

The total cash consideration is worth roughly 785.1 million yuan, with around 185.0 million yuan contingent on future performance.

The acquisition is expected to complete in the first half of 2020, according to the Dec. 4 filing.

As of Dec. 4, US$1 was equivalent to 7.05 yuan.