Contemporary Amperex Technology Co., Limited agreed to acquire 38.08% stake in VNET Group, Inc. from Shandong Hi-Speed Holdings Group Limited for approximately $940 million.
Contemporary Amperex Technology Co., Limited (SZSE:300750) agreed to acquire 38.08% stake in VNET Group, Inc. (NasdaqGS:VNET) from Shandong Hi-Speed Holdings Group Limited (SEHK:412) for approximately $940 million on May 13, 2026. A cash consideration of $942.2 million valued at $1.4486 per share will be paid by Contemporary Amperex Technology Co., Limited. As part of consideration, $942.2 million is paid towards common equity of VNET Group, Inc.
The transaction is subject to approval by the shareholders of Shandong Hi-Speed Holdings Group Limited and is expected to take place in the fourth quarter of 2026.
Contemporary Amperex Technology Co, Ltd. is specialized in the design, manufacture and marketing of automotive battery systems. Products include energy storage solutions, energy storage batteries and lithium-ion rechargeable batteries for electric vehicles (passenger cars, buses, trucks, etc.).
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Contemporary Amperex Technology Co., Limited agreed to acquire 38.08% stake in VNET Group, Inc. from Shandong Hi-Speed Holdings Group Limited for approximately $940 million.
