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VNET to Sell 38% Stake to PJ Millennium Investors in Deal Valued at $542 Million
VNET Group Inc. announced a share purchase agreement with PJ Millennium I Limited and PJ Millennium II Limited for nearly 650 million shares. The transaction, valued at approximately $8.69 per ADS, is scheduled to close in Q4 2026 pending shareholder approval.
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VNET Group Inc. announced it will sell a 38% stake to PJ Millennium Investors for $1.44 per share in a transaction valued at approximately $542 million. The deal is expected to close in the fourth quarter of 2026 pending shareholder approval. According to the company, the strategic partnership will provide a major cash infusion and allow VNET to work closely with its new partners to deepen collaboration across technology and supply chains.
The announcement was made on May 13, 2026, the same day the New York Stock Exchange, Nasdaq and Cboe opening bell was rung. VNET shares rose following the news.
The company stated that the transaction represents 1% of the total issued shares of VNET after completion.
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