Latham & Watkins Represents Coatue Management in US$1 Billion Investment in GDS

GDS Holdings Limited (GDSH) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China and Southeast Asia, has announced that its international affiliate, DigitalLand Holdings Limited (GDS International or GDSI), which acts as the holding company for GDSH’s data center assets and operations outside of mainland China, has entered into definitive agreements for certain institutional private equity investors to subscribe for US$1.0 billion of Series B convertible preferred shares newly issued by GDSI. The US$1 billion Series B investment mostly comprises new US investors, led by Coatue Management with substantial participation by The Baupost Group. Together 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.

Latham & Watkins LLP represents Coatue in the investment with a New York corporate team led by partner Tracey Zaccone, with associates Ian Lachow and Sheen Moaleman, and a Hong Kong corporate team led by partners Derek Chua and Posit Laohaphan, with associates Andrew Yau and Christine Lo. Advice was also provided on tax matters by New York partner Bora Bozkurt, with associate Michael Yu.