Funds managed by KKR and Asian communications technology group Singtel have plans to acquire the remaining 82 percent stake in ST Telemedia Global Data Centres (STT GDC), a data center colocation services provider headquartered in Singapore.
Founding shareholder ST Telemedia is selling the stake for a total consideration of S$6.6 billion ($5.1 billion). This represents an implied enterprise value of approximately S$13.8 billion ($10.9 billion), including leverage and capital expenditure for committed projects.
The KKR-Singtel consortium first invested S$1.75 billion ($1.3 billion) in STT GDC through preference shares and warrants in what marked the largest digital infrastructure investment in Southeast Asia in 2024. Since then, STT GDC has grown its pipeline from 1.4 gigawatts in 2024 to more than 1.7 gigawatts.
After the deal closes, KKR and Singtel will own stakes of 75 percent and 25 percent, respectively, in the company.
“This expanded investment fr
