Exhibit 99.1
Chindata Group Announces Shareholders’ Approval of Merger Agreement
BEIJING, December 4, 2023—Chindata Group Holdings Limited (“Chindata Group” or the “Company”) (Nasdaq: CD), a leading
carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets, today announced that at an extraordinary general meeting of shareholders (the “EGM”) held today, the Company’s shareholders voted in favor of,
among other things, the proposal to authorize and approve the execution, delivery and performance of the previously announced agreement and plan of merger, dated as of August 11, 2023 (the “Merger Agreement”), among the Company, BCPE
Chivalry Bidco Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands (“Parent”), and BCPE Chivalry Merger Sub Limited, an exempted company with limited liability incorporated under the laws
of the Cayman Islands and a wholly-owned subsidiary of Parent (“Merger Sub”), and the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands (the “Plan of Merger”), pursuant to which Merger Sub
will be merged with and into the Company, with the Company continuing as the surviving company and becoming a wholly owned subsidiary of the Parent (the “Merger”), and to authorize and approve the consummation of any and all transactions
contemplated by the Merger Agreement and the Plan of Merger, including the Merger.
Approximately 91.70% of the Company’s total outstanding
Class A ordinary shares and Class B ordinary shares, par value US$0.00001 per share (each, a “Class A Share” and “Class B Share,” respectively), including Class A Shares represented by the Company’s
American depositary shares (the “ADSs”), attended the EGM by proxy. Each shareholder has one vote for each Class A Share or 15 votes for each Class B Share. These shares represented approximately 98.85% of the total outstanding
votes represented by the Company’s total ordinary shares outstanding at the close of business in the Cayman Islands on the record date of November 3, 2023. The Merger Agreement, the Plan of Merger and the transactions contemplated thereby,
including the Merger, were approved by over 97.75% of the total votes cast at the EGM.
The completion of the Merger is subject to the satisfaction or
waiver of the conditions set forth in the Merger Agreement. Under Section 7.2(e) of the Merger Agreement, the obligations of Parent and Merger Sub to consummate the Merger and the other transactions contemplated by the Merger Agreement are
subject to the condition that shareholders of the Company holding less than 12% of the total issued and outstanding shares of the Company immediately prior to the effective time of the Merger shall have validly served and not withdrawn a notice of
objection under section 238(2) of the Companies Act (As Revised) of the Cayman Islands (“Objection Notices”). Prior to the EGM, the Company received Objection Notices from holders of the Company’s Class A ordinary shares
representing, collectively, approximately 22.79% of the total issued and outstanding shares of the Company. As a result, the closing condition under Section 7.2(e) of the Merger Agreement is not satisfied. The Company has formally requested
that Parent and Merger Sub waive this closing condition. However, the Company cautions its shareholders and others considering trading its securities that, due to the non-satisfaction of the closing condition
in Section 7.2(e) of the Merger Agreement, Parent and Merger Sub are not obligated to consummate the Merger or the other transactions contemplated by the Merger Agreement and that there is no assurance that Parent and Merger Sub will waive such
closing condition.
If and when the Merger is completed, it would result in the Company becoming a private company and its ADS would no longer be listed
or traded on any stock exchange, including the NASDAQ Global Select Market, and the Company’s ADS program would be terminated.
About Chindata
Group
Chindata Group is a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets and a first mover in
building next-generation hyperscale data centers in China, India and Southeast Asia markets, focusing on the whole life cycle of facility planning, investment, design, construction and operation of ecosystem infrastructure in the IT industry.
Chindata Group provides its clients with business solutions in major countries and regions in Asia-Pacific emerging markets, including asset-heavy ecosystem chain services such as industrial bases, data centers and network services.