KKR and Singtel to acquire the remaining 82% stake in ST Telemedia Global Data Centres from ST Telemedia for $5.1bn.

KKR, an investment firm, and Singtel, a Singaporean multinational telecommunications conglomerate, agreed to acquire the remaining 82% stake in ST Telemedia Global Data Centres, a data centre provider, from ST Telemedia, an active investor in the communications, media and technology areas, for $5.1bn. “This acquisition is a significant step towards scaling our new growth engine in digital infrastructure as mapped out in our Singtel28 growth plan. STT GDC's diverse geographical footprint increases our exposure to new markets and makes the Singtel Group a stronger data centre player with global reach. We appreciate ST Telemedia’s stewardship of the company and are confident that its seasoned leadership team will continue to scale the solid platform they have built. When added to our portfolio of data centre assets that includes Nxera in which KKR is also a capital partner, it meaningfully changes the business complexion of the Group while creating new opportunities for capital optimisation and growth. We will continue to exercise discipline in capital allocation and evaluate capital recycling alternatives to fund growth and maintain balance sheet efficiency. Our dividend and growth plans under Singtel28 remain intact,” Arthur Lang, Singtel Group Chief Financial Officer.