Global investment firm, KKR & Co and Singapore Telecommunications (Singtel) are in advanced talks to acquire more than 80 per cent ST Telemedia Global Data Centres (STT GDC) worth over S$5 billion (US$ 3.9 billion) which, if successful, would give them full ownership, Reuters reported yesterday, quoting sources familiar with the matter. If a deal is struck by year end, it would rank as one of the biggest data center transactions in Asia.
Currently, STT GDC is owned by ST Telemedia, which is wholly owned by Singapore state investor Temasek Holdings. KKR and Singtel own about 14 per cent and 4 per cent respectively, having purchased their stakes in June 2024 in a S$1.75 billion deal, according to the news agency. KKR is leading the acquisition talks.
Last Friday, Singtel had, through a stock exchange filing, revealed that it is part of a consortium involved in a discussion regarding STT GDC.
KKR, ST Telemedia and STT GDC declined to respond to press requests for comment.
Founded in 2014, STT GDC operates more than 100 data centres with over 2 gigawatts of IT load across over 20 major markets, including Singapore, India, Japan, and Europe.
KKR’s Asia Pacific infrastructure business, launched in 2019, has about US$ 13 billion in assets under management.
