DEALS
Zhong Lun Advises Guangdong Bluesea Data on Selling RMB 700 Million Data Center to Keppel DC REIT
Zhong Lun Advises Guangdong Bluesea Data on Selling RMB 700 Million Data Center to Keppel DC REIT
Keppel DC REIT (“Keppel"), the largest data center REIT in Asia, recently announced its acquisition of a premium data center facility from Guangdong Bluesea Data Development Co., Ltd. (“Bluesea") in Jiangmen, Guangdong Province. The 20,000-square meter data center, located in the hinterland of the Greater Bay area, had been built in conformity with the national A class standard under the Code for Design of Data Centers. The parties executed a series of agreements on July 26, with the acquisition price of around RMB 700 million. This marks Keppel’s first foray into China’s data center market, the largest one in the Asia-Pacific region and the second largest in the world.
As legal counsel for Bluesea, Zhong Lun provided full legal services in this deal, including designing the transaction structure, drafting and revising various transaction documents, participating in negotiations, and issuing legal opinions, which have earned the firm high recognition from the client and the counterparty. The project is handled by partner Jianqing Ding and senior associate Simon Feng.
Bluesea, a subsidiary of Guangdong Bluesea Mobile Development Co., Ltd. (“Bluesea Mobile"), is an arm of Hong Kong-listed Neo Telemedia Ltd. (HK.8167). Bluesea Mobile is a well-established high-tech company and data center operator in Guangdong Province. Its group companies have developed, among other projects, Guangzhou Lianhuashan Data Center, Guangzhou Nanxiang Cloud Services Data Center, Shanghai Baoshan Data Center, Shenzhen Guanlan Flagship Data Center, and Jiangmen Heshan Bluesea Intelligence Valley Mega Data Center Campus.
