Bain Capital has received binding bids from several Chinese companies for the domestic data centre assets of Chindata Group, in a deal that could value the business at about 30bn yuan ($4.2bn), according to Bloomberg.

Range Intelligent Computing Technology, a Chinese data centre services provider currently weighing a second listing in Hong Kong, is among the bidders. Other potential buyers include Guangdong HEC Technology, Youzu Interactive, Beijing Capital Group, and Shanghai-based Inesa Group.

The process remains at a preliminary stage, and no final decision has been made. Bain, which took Chindata private in 2023 in a $3.2bn transaction, declined to comment.

Chindata operates data centres across China’s major economic hubs, including Beijing, the Yangtze River Delta, and the Greater Bay Area, and also has operations in India and Malaysia. ByteDance, the owner of TikTok, is one of its key clients in China.

Investor appetite for digital infrastructure has grown sharply as artificial intelligence drives demand for data capacity. Recent transactions include Meta’s $14.3bn investment in Scale AI, alongside major AI-related partnerships by Amazon, Microsoft, and Google.

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