A consortium led by KKR and comprising Singtel has agreed to amass the remaining 82% stake in ST Telemedia International Knowledge Centres (STT GDC) from founding shareholder ST Telemedia, for S$6.6bn ($5.1bn).
The deal values the info centre firm at an enterprise worth of roughly S$13.8bn ($10.9bn), which incorporates current leverage and capital expenditure commitments.
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Following completion of the transaction, KKR will maintain a 75% stake, and Singtel will personal 25% of STT GDC, reflecting the conversion of each events’ current redeemable choice shares within the firm.
The transaction follows an preliminary funding in 2024, when KKR and Singtel contributed S$1.75bn via choice shares and warrants into STT GDC, marking what was then Southeast Asia’s largest digital infrastructure funding.
KKR Asia Pacific co-head David Luboff mentioned: “This transaction represents a uncommon alternative to additional help a high-quality platform and deepen our strategic partnership with Singtel.
“We look ahead to deploying KKR’s world community and deep digital infrastructure experience to assist STT GDC speed up its subsequent part of sustainable, worldwide progress.”
Since this funding, STT GDC has elevated its pipeline capability from 1.4GW to over 1.7GW.
Singtel group chief monetary officer Arthur Lang mentioned: “This acquisition is a big step in direction of scaling our new progress engine in digital infrastructure as mapped out in our Singtel28 progress plan.
“We are going to proceed to train self-discipline in capital allocation and consider capital recycling alternate options to fund progress and keep steadiness sheet effectivity. Our dividend and progress plans below Singtel28 stay intact.”
Based in 2014 by ST Telemedia and headquartered in Singapore, STT GDC operates in 12 main markets throughout Asia Pacific, the UK and Europe, with a complete design capability of two.3GW.
The corporate affords colocation, connectivity, and help providers to purchasers dealing with AI and cloud workloads that require important knowledge processing assets.
STT GDC president and group CEO Bruno Lopez mentioned: “This expanded funding from KKR and Singtel underscores their confidence within the high quality of STT GDC’s enterprise and its progress trajectory and can additional speed up our mission to ship the crucial infrastructure powering tomorrow’s digital economic system.
“With the consortium’s world experience, regional networks, monetary power and, most significantly, our shared ambition, STT GDC is poised to scale quickly and seize the subsequent wave of great progress in cloud and AI demand.”
Completion of the acquisition stays topic to regulatory approvals and normal closing circumstances.
The events count on to finalise the transaction by early within the second half of 2026.
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