London-based funds manager Actis is buying a majority stake in China-focused data center developer Chayora Holdings Ltd. for US$180 million, Mingtiandi reported, citing a person close to the deal.
The British funds manager is making the purchase through its Actis Asia Real Estate Fund and other investment vehicles. The unnamed source further told the news platform that the company intends to grow its stake in the Hong Kong-based data center specialist through subsequent investments in the eight-year-old venture.
Chayora Holdings intends to supplement Actis' capital injection with US$250 million of debt. The total amount that will be collected will be used to develop a pair of hyperscale facilities within its 2.3 million-square-foot campus in Beijing's south, to fund the expansion of its campus in Tianjin, China, and for its acquisition of the site for its planned 280 MW Shanghai campus, according to Mingtiandi.
With the help of the investment, Chayora Holdings will be able to triple its data center footprint within the Beijing campus, allowing it to provide better services to tenants including Alibaba Group Holding Ltd. and Tencent Holdings Ltd., the Oct. 13 report added.