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KKR-SingTel consortium competes for $1b stake in ST Telemedia Global Data Centres
Transactions - MAY 30, 2024

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KKR-SingTel consortium competes for $1b stake in ST Telemedia Global Data Centres

by Andrea Zander

A consortium of KKR and Singapore Telecommunications (SingTel) has emerged as the frontrunner to buy a minority stake worth $1 billion in ST Telemedia Global Data Centres (STT GDC), one of Asia’s biggest data center providers, according to ChannelNewsAsia.

The KKR-SingTel consortium is competing with Stonepeak for a stake of up to 20 percent in STT GDC, IREI understands.

SingTel, in a local stock-exchange filing Wednesday, said it regularly explores and reviews business opportunities, projects and proposals relating to its business and enters into discussions with various parties from time to time.

The potential investment reflects growing interest and demand for data centers across Asia Pacific in response to the boom in artificial intelligence.

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