Singtel, an Asian communications technology group, and KKR have reached a definitive agreement under which a fund managed by KKR will commit up to S$1.1 billion ($800 million) for a 20 percent stake in Singtel’s regional data center business. This investment puts the enterprise value of Singtel’s overall regional data center business at S$5.5 billion ($4.0 billion). KKR will have the option to increase its stake to 25 percent by 2027 at the pre-agreed valuation.
The collaboration is a first between Singtel and KKR. The proceeds from this transaction will be used to accelerate the expansion of the regional data center business across ASEAN markets, including Singapore, Indonesia and Thailand, while exploring markets like Malaysia and others.
Singtel’s regional data center business is part of the Digital InfraCo unit, which was formed in June 2023. Singtel has been growing this business anchored by its expertise in Singapore, where it is one of the largest operator
