Appleby Advises on Coatue Management US$1 Billion Investment in GDS
Appleby is pleased to have acted as Cayman Islands counsel to Coatue Management, alongside U.S. counsel Latham & Watkins, in its USD$1 billion investment in GDS.
GDS Holdings Limited (GDSH) (NASDAQ: GDS; HKEX: 9698), a leading provider of high-performance data centers across China and Southeast Asia, has announced that its international affiliate, DigitalLand Holdings Limited (GDS International or GDSI), the holding entity for GDSH’s data center assets and operations outside mainland China has entered into definitive agreements for certain institutional private equity investors to subscribe to USD$1 billion in newly issued Series B convertible preferred shares of GDSI. The USD$1 billion Series B investment is primarily backed by new U.S. investors, led by Coatue Management with significant participation from The Baupost Group. Combined with GDSI’s existing equity, the Series B raise will be sufficient to capitalize the development of up to 1 GW of total data center capacity.
The Appleby corporate team advising Coatue Management was led by Cayman Partner Simon Raftopoulos and Senior Associate Alexandra Low.
