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CATL-Linked Companies to Buy VNET Shares from Shandong Hi-Speed Affiliates

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Companies linked to battery giant Contemporary Amperex Technology (SHE:300750, HKG:3750) are looking to purchase a 38.1% stake in Chinese data center operator VNET for up to $942.2 million, according to a Wednesday press release.

Units of PJ Millennium LP, whose partner Lochpine BG I is an affiliate of CATL, will purchase 650.4 million class A ordinary shares at $1.4486 apiece from Success Flow International Investment and Choice Faith Group Holdings.

Both Success Flow and Choice Faith are beneficially owned by Shandong Hi-Speed Holdings (HKG:0412).

Nasdaq-listed VNET operates across 30 cities in China with 7,000 customers.

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