SINGAPUR (dpa-AFX) - Funds managed by KKR and Singtel agreed to acquire the remaining 82% stake in ST Telemedia Global Data Centres or 'STT GDC', a provider of data centre colocation services. The stake will be purchased from founding shareholder ST Telemedia for a total consideration of S$6.6 billion or approximately US$5.1 billion. This transaction implies an enterprise value of about S$13.8 billion or approximately US$10.9 billion, which includes leverage and capital expenditure for committed projects.
Following the completion of the acquisition, KKR and Singtel will hold ownership stakes of 75% and 25% respectively in STT GDC. These percentages take into account the conversion of existing redeemable preference shares that both KKR and Singtel currently hold in the Company.
The transaction is expected to close by early second half of 2026, subject to customary closing conditions, including regulatory approvals.
Established in 2014 by ST Telemedia and headquartered in Singapore, STT GDC is a data centre platform with 2.3GW of design capacity across 12 major markets in the Asia Pacific, the United Kingdom, and Europe. The company provides critical services including high-quality colocation, connectivity, and round-the-clock support.
Z74.SI was trading at S$4.8600, reflecting an increase of S$0.2200 or 4.74%.
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