Clifford Chance
Clifford Chance advises Standard Chartered Bank Principal Finance Real Estate on US$73 million investment in data centre operator in China
30 March 2016
Clifford Chance advises Standard Chartered Bank Principal Finance Real Estate on US$73 million investment in data centre operator in China
Leading international law firm Clifford Chance has advised Standard Chartered Bank Principal Finance Real Estate (SCB PFRE) on its strategic investment of up to US$73 million in Chayora Holdings Limited, a data centre project developer and operator in China, offering clients large-scale, built-to-suit and high-performance data centres.
SCB PFRE's investment involves a direct equity stake of up to 19.5% in Chayora and the introduction of additional substantial long-term equity for the anchor data centres located within Chayora’s planned Tianjin and Hangzhou campuses. This commitment by SCB PFRE triggers matching equity from Chayora’s domestic strategic partners for these projects.
The investment partnership between SCB PFRE and Chayora combines required capital, a wealth of global client relationships and China market expertise with a unique data centre campus based platform that will support the needs of both international and premium domestic data centre users who require highly resilient, energy efficient, large scale built-to-suit data centres in China.
The team advising SCB PFRE was led by Beijing based partner Terence Foo who was supported by counsel Hong Zhang and associates Bernard Cheng and Iris Liu.
Terence said, "We were very pleased to advise on this strategic investment for Standard Chartered's real estate arm which seeks to ride on the tremendous growth in the demand for cloud and other internet based services and the need for world-class data centre solutions in China."
Standard Chartered's principal finance business provides private equity solutions to Standard Chartered Bank’s clients across Asia, Africa and the Middle East. Its private equity platform invests in companies in need of expansion capital or acquisition finance, and in management buy-outs, focusing on companies whose principal operations and management are located in its footprint markets.
