KKR-Led Consortium Nears Acquisition of ST Telemedia Global Data Centres Valued at Over $10 Billion
A KKR-led consortium is nearing the acquisition of ST Telemedia Global Data Centres, valuing the firm at over S$13 billion (approximately US$10 billion). The deal, involving Singapore's Singtel, follows KKR's previous minority investment in the company and reflects increasing foreign interest in data centers due to rising demand driven by the AI boom in Asia. An announcement regarding the acquisition is expected soon.
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A consortium led by KKR is close to acquiring ST Telemedia Global Data Centres, with the deal valuing the firm at over S$13 billion (approximately US$10 billion). KKR, in partnership with Singapore telecommunications company Singtel, will purchase ST Telemedia Global Data Centres from its parent company.
Negotiations are advanced, with an announcement expected soon. ST Telemedia currently holds an over 80% stake in STT GDC, while the KKR-led group acquired a minority stake in 2024 for about US$1.3 billion.
This acquisition reflects a trend where foreign firms are investing in data centers to meet rising demand driven by the artificial intelligence boom, particularly in Asia. KKR previously invested US$800 million for a 20% share of Singtel's regional data-center business in 2023.
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