Ping’s $150 Million Equity Investment In GDS Holdings Limited


The Firm represented GDS Holdings Limited (“GDS”) (NASDAQ: GDS) in connection with its US$150 million equity investment by China Ping An Insurance Overseas (Holdings) Limited (“Ping An Overseas Holdings”).

The investment will be in the form of convertible preferred shares. GDS will use the proceeds from the investment to fund expansion of its data center capacity and for general corporate purposes.

GDS is a leading developer and operator of high-performance data centers in China and its facilities are strategically located in China’s primary economic hubs where demand for high-performance data center services is concentrated. Ping An Overseas Holdings is a direct wholly-owned subsidiary of Ping An Insurance (Group) Company of China, Ltd. (“Ping An”) (2318.HK) and is the main overseas platform for direct investments and asset management of Ping An.

The Simpson Thacher team for the transaction included Ian Ho (Picture), Erik Wang and Chen Zhang (M&A); and Daniel Fertig and Andrew Laub (Capital Markets).

Involved fees earner: Daniel Fertig – Simpson Thacher & Bartlett; Ian Ho – Simpson Thacher & Bartlett; Andrew Laub – Simpson Thacher & Bartlett; Erik Wang – Simpson Thacher & Bartlett; Chen Zhang – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: GDS Holdings Limited;

Author: Michael Patrini