KKR and Singapore Telecommunications have reached an agreement with ST Telemedia to acquire an 82% stake in ST Telemedia Global Data Centres (STT GDC) for about S$6.6 billion. The transaction places an enterprise value on STT GDC of roughly S$13.8 billion, and establishes a post-deal ownership split in which KKR will control 75% and Singtel will own 25% of the company.
The purchase represents an extension of an earlier commitment by KKR and Singtel, who previously invested S$1.75 billion in STT GDC in 2024. That prior investment and the current agreement together reflect continued institutional interest in data centre assets within Asia.
Deal mechanics and valuation
The headline figure for the transaction is S$6.6 billion for an 82% stake, which scales to an enterprise value near S$13.8 billion for the entire business. Under the terms presented, KKR and Singtel will hold a 75% and 25% interest respectively upon closing. The deal structure follows the earlier S$1.75 billion injection by the two buyers into STT GDC during 2024.
Company profile and capacity
STT GDC, a unit of ST Telemedia, is cited as one of the larger data centre operators in Asia. The company maintains facilities across the Asia Pacific and Europe, with total installed or planned capacity amounting to 2.3 gigawatts. That scale positions STT GDC as a significant infrastructure provider for data-heavy workloads.
Market relevance
Data centres are central to large-scale computing applications, including generative artificial intelligence, and STT GDC has been a focal point as demand for such infrastructure has risen. The combination of a large capacity base and presence across multiple regions underpins the strategic interest from both a private equity firm and a major telecommunications provider.
While the transaction details above capture the headline terms - acquisition price for the 82% stake, the implied enterprise value, and the eventual ownership split - the parties have not provided additional public details beyond these figures in the information supplied.
Summary of key facts
- KKR and Singtel to buy 82% of STT GDC for about S$6.6 billion.
- The deal implies an enterprise value of about S$13.8 billion for STT GDC.
- KKR and Singtel previously invested S$1.75 billion in STT GDC in 2024; post-closing ownership will be 75% for KKR and 25% for Singtel.
- STT GDC operates across Asia Pacific and Europe with 2.3 gigawatts of capacity.