Three months after news surfaced about a possible stake sale of Singapore-based data center platform Bridge Data Centres by owner Bain Capital, the potential buyers have been revealed to be South Korea’s telecom giant SK Telecom Co. , Singapore state investor GIC Pte, Canada’s pension fund La Caisse and investment firm Sixth Street Partners, according to Bloomberg, citing people familiar with the matter.
The people added that Bain Capital, a private equity firm, might sell about 50 per cent stake and roll over the remaining stake. A sale could potentially value the business at more than US$ 4 billlion. Talks are still ongoing and details like the size of the stake and the valuation might change.
In April, w.media reported that Bain Capital was seeking to sell 40 per cent or more of its stake in Bridge Data Centres which would value the firm at US$ 5 billion, citing reports. Bain had reportedly hired American top banks, Citigroup and JPMorgan to conduct the sale with indicative bids by several private equity and infrastructure funds due by end May.
Sixth Street, La Caisse, GIC and Bain Capital declined to comment, while SK Telecom and Bridge Data Centres did not immediately respond to requests for comment.
Bridge Data Centres operates and builds data centers across Malaysia, Thailand and India targetting 3GW of capacity by 2030. It currently operates and/or plans five data centers in Malaysia, two in Thailand and one in India, according to its website.