Appleby Advises On $1 Billion GDS Investment: A Data Center Power Play
Appleby served as Cayman Islands counsel to Coatue Management, in collaboration with U.S. counsel Latham & Watkins, for its US$1 billion investment in GDS.
GDS Holdings Limited (GDSH) (NASDAQ: GDS; HKEX: 9698), a premier provider of high-performance data centers in China and Southeast Asia, recently announced a strategic move by its international affiliate, DigitalLand Holdings Limited (GDS International or GDSI). GDSI, which manages GDSH’s data center assets and operations outside mainland China, has entered into definitive agreements for institutional private equity investors to subscribe to $1.0 billion in newly issued Series B convertible preferred shares. Leading the $1 billion Series B investment are new U.S. investors, spearheaded by Coatue Management, with significant involvement from The Baupost Group. Together with GDSI’s existing equity, this Series B funding will adequately support 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.
