Temasek To Invest $100 Mln In 21Vianet Group

(RTTNews) - 21Vianet Group Inc. (VNET) announced 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.

As per the 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.