SingTel and global investment firm KKR are reportedly leading the race to acquire a significant stake in ST Telemedia Global Data Centres (STT GDC).
This move by KKR follows their previous investment in SingTel’s regional data center business last year, highlighting their strategic focus on the burgeoning Asian data center market. With a dedicated Asia-Pacific infrastructure fund of $6.4 billion raised earlier this year, KKR seems poised to capitalize on this regional trend.
According to Reuters, the potential $1 billion deal will be announced as early as June. While both KKR and SingTel declined to comment officially, sources familiar with the discussions say the consortium is facing competition from alternative investment firm Stonepeak for a stake of up to 20% in STT GDC.
STT GDC boasts a network of facilities across key markets like Singapore, India, and South Korea. The potential investment by the KKR-SingTel consortium could provide STT GDC with the resources to further expand its reach and meet the growing data storage needs of the region.