VNET Group, a carrier- and cloud-neutral Internet data center services provider in China, has received an unsolicited preliminary non-binding proposal letter from The Hina Group and Industrial Bank Co., Ltd., Shanghai Branch, proposing to acquire all outstanding ordinary shares.
VNET operates in more than 30 cities throughout China, servicing a diversified and loyal base of more than 6,500 hosting and related enterprise customers that span numerous industries, including internet companies, government entities, blue-chip enterprises and small- to mid-sized enterprises.
In January 2022, funds managed by Blackstone Tactical Opportunities agreed to make a $250 million investment in VNET.
