2021.03.23
Recently, JunHe assisted two investors in completing their A-round investment in Tenglong Group, with a total investment amount of RMB 1.5 billion. Tenglong Group is one of the leading operators of customized internet data center (IDC) in China. JunHe acted as the legal counsel to the investors and provided a full range of legal services for this transaction.
Tenglong Group was established in 2015. Its core business is in the investment, construction and operation of new generation cloud computing data centers, and providing global distributed data center customization services for large internet companies, financial institutions and government enterprises. It also provides cloud security, cloud computing, IOT, big data and other internet value-added services for its clients. Tenglong Group is the leading customized data center provider in China. Since its establishment, Tenglong Group has rapidly grown and expanded and it has developed, constructed and operated data center projects in central cities and major provinces in China.
The lead investor in this project was Chixiao Enterprise Co., Ltd., an asset management platform of Nanshan Group. It has previously invested in many leading enterprises with great influence in the industry. The co-investor was Chongqing Liangjiang New Area Industrial Development Group Co., Ltd., which assists with the industrial development of the Liangjiang New Area and is committed to becoming a promoter of industrial development, a manager of industrial operations, a provider of industrial services, a leader of city-industry integration and a builder of functional platforms.
JunHe acted as the legal counsel to the two investors, and was the only legal counsel for the investors in this project. JunHe team provided complete legal services, including conducting legal due diligence, drafting a full range of transaction documents, and representing the clients in multiple rounds of negotiations with Tenglong Group. JunHe assisted its clients in entering into agreements and closing of the transaction successfully. JunHe has been recognized and trusted by the clients for its rigorous and efficient work style as well as its meticulous and dedicated service attitude.
The complexity of the project was immense: a. There was a huge workload for this project as it involved several data centers distributed across the nation. JunHe team worked under extreme time pressures, overcame the impact of the epidemic and effectively completed the due diligence; b. The transaction structure was complex, the transaction process was intricate and a series of guarantees and closing conditions were applied. JunHe team needed to arrange a seamless transaction process perfectly; c. The investors were state-owned enterprises and therefore prudent investment and strict internal control requirements shall be complied with. JunHe team participated on behalf of the investors in multiple rounds of negotiations with Tenglong Group about the transaction process and closing conditions, and eventually achieved a successful closing of the project.
The leading partner of this project was Ms. CHEN, Wei. Partner Ms. ZHANG, Lijun provided great assistance to this project.
