🇨🇳PJ Millennium buyers completed their acquisition of 650,424,192 Class A shares in VNET (世纪互联), reaching approximately 38.1% ownership.

VNET (世纪互联) announced on September 21 that the strategic investment transaction had closed, according to Financial_Express. PJ Millennium I Limited and PJ Millennium II Limited together acquired 650,424,192 Class A ordinary shares from sellers, leaving the buyers with approximately 38.1% of the company’s outstanding ordinary shares.

Both buyers are wholly owned subsidiaries of PJ Millennium Limited Partnership. Its general partner is Lochpine BG I GP Limited, which is wholly owned by Lochpine Capital Limited.

The report explicitly describes Lochpine Capital Limited as a non-controlled, non-consolidated affiliate of CATL (宁德时代), rather than a CATL-controlled subsidiary. The disclosed transaction is a purchase from selling shareholders, not a stated new-share capital raise by VNET; consideration, financing terms, voting control, and board changes are not supplied.