KKR and Singapore Telecommunications (Singtel) announced that they will purchase the remaining 82% stake in ST Telemedia Global Data Centres (STT GDC) for 6.6 billion Singapore dollars, valuing the company at an enterprise value of 13.8 billion Singapore dollars. The deal will leave KKR with a 75% ownership interest and Singtel with 25%.
The transaction marks KKR’s largest infrastructure investment in the Asia‑Pacific region to date and expands its data‑center footprint across 12 markets in Asia‑Pacific, the United Kingdom and Europe. STT GDC already provides colocation, connectivity and support services to hyperscalers and enterprise customers, positioning the company to benefit from the surge in demand for cloud computing and artificial intelligence workloads. KKR’s co‑head of Asia‑Pacific infrastructure, David Luboff, said the diversified geographic footprint and development pipeline make STT GDC a compelling long‑term asset for the firm’s three‑pillar model.
KKR’s acquisition deepens its strategic partnership with Singtel. Bruno Lopez, President & Group CEO of STT GDC, expressed confidence in the company’s growth trajectory, while Arthur Lang, Group CFO of Singtel, described the deal as a significant step in scaling Singtel’s digital‑infrastructure growth engine. The purchase price of 6.6 billion Singapore dollars reflects the strong pipeline, which has grown from 1.4 GW to over 1.7 GW since the initial investment in 2024.
Financially, the deal is expected to enhance KKR’s recurring fee income and provide a permanent capital base through its Global Atlantic insurance platform, aligning with KKR’s strategy to generate durable earnings across its asset‑management, insurance and strategic‑holdings pillars. STT GDC’s FY 2024 financials show a net loss of 185 million US dollars, a book value of 5.3 billion US dollars and net tangible assets of 4.7 billion US dollars, underscoring the value of the investment despite recent losses.
The transaction is expected to close in the early second half of 2026, after regulatory approvals and customary closing conditions are satisfied. The acquisition positions KKR to capture long‑term growth in the data‑center market while reinforcing its partnership with Singtel and expanding its presence in key growth regions.
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