KKR-led company plans to buy Singapore data-centre firm valued at over $10 billion, WSJ reports

KKR-Led Consortium Nears Deal to Buy ST Telemedia Global Data Centres at Over $10 Billion Valuation

A consortium led by private equity giant KKR is close to striking a deal to acquire Singapore-based ST Telemedia Global Data Centres (STT GDC) in a transaction that would value the company at more than S$13 billion ($10.22 billion), the Wall Street Journal reported on Saturday, citing people familiar with the matter.

According to the report, KKR is partnering with Singapore telecommunications major Singtel to purchase the global data centre operator from its parent company, ST Telemedia.

Reuters could not immediately verify the report. KKR declined to comment, while ST Telemedia Global Data Centres, ST Telemedia, and Singtel did not respond to requests for comment outside regular business hours.

Previous talks

Reuters had reported in November that KKR and Singapore Telecommunications were already in advanced discussions to acquire more than 80% of STT GDC for over S$5 billion ($3.93 billion), a move that could eventually give the consortium full ownership.

KKR currently holds about a 14% stake in the company, while Singtel owns more than 4%. The remaining shares are controlled by ST Telemedia, which is wholly owned by Singapore state investor Temasek Holdings.

Riding the AI-driven data boom

If completed, the deal would rank among the largest data centre transactions in Asia, underscoring growing investor appetite for digital infrastructure as demand surges amid the rapid expansion of artificial intelligence and cloud services.

Founded in 2014 and headquartered in Singapore, STT GDC describes itself as one of the world’s fastest-growing data centre providers. The company operates more than 100 data centres with over 2 gigawatts of IT load capacity across more than 20 major markets, including Singapore, India, Japan, and several European countries through its VIRTUS brand.

The acquisition would further strengthen KKR and Singtel’s exposure to the fast-growing data centre sector, which has become critical infrastructure for AI computing and cloud-based services.

($1 = 1.2721 Singapore dollars)