A KKR-led consortium is close to acquiring ST Telemedia Global Data Centres (STT GDC) in a deal that would value the Singapore-based digital infrastructure major at more than S$13 billion (around $10.2 billion), according to a report by The Wall Street Journal. The transaction, if completed, would rank among the largest data centre deals in Asia, underscoring the sector’s rapid growth amid booming demand driven by artificial intelligence and cloud computing.
The report said KKR is pursuing the acquisition alongside Singapore Telecommunications (Singtel), with the assets being acquired from parent company ST Telemedia. ST Telemedia is wholly owned by Singapore’s state investor Temasek Holdings. While Reuters could not independently verify the report, KKR declined to comment, and ST Telemedia, STT GDC, and Singtel did not immediately respond to requests for comment.
KKR already owns about 14% of STT GDC, while Singtel holds a stake of more than 4%. The remaining shares are held by ST Telemedia. Reuters had earlier reported in November that KKR and Singtel were in advanced talks to acquire more than 80% of the company for over S$5 billion, a move that could pave the way for full ownership.
Founded in 2014 and headquartered in Singapore, ST Telemedia Global Data Centres has positioned itself as one of the world’s fastest-growing data centre platforms. The company operates more than 100 data centres with over 2 gigawatts of IT load across 20-plus major markets. Its footprint spans Singapore, India, and Japan, and extends into Europe through its VIRTUS brand in the UK, Germany, and Italy.
With global demand for digital infrastructure accelerating, the proposed acquisition highlights strong investor appetite for large-scale, AI-ready data centre assets.
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