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The consortium acquires the remaining 82% stake from ST Telemedia for S$6.6 billion, backed by a S$5 billion sustainability-linked loan to scale a 2.3GW global data center platform.
Global investment firm KKR and Asia’s leading communications technology group Singtel have officially completed their acquisition of the remaining 82% stake in ST Telemedia Global Data Centres (STT GDC) from Temasek-owned ST Telemedia. The transaction values the Singapore-headquartered data center giant at an implied enterprise value of S$13.8 billion (~US$10.9 billion).
Following the conversion of existing redeemable preference shares, KKR holds a controlling 75% equity stake while Singtel holds 25%. The transaction represents one of the largest digital infrastructure buyouts in Asia-Pacific history, establishing an immense hyperscale compute platform designed to meet surging artificial intelligence and cloud demand across 12 major global markets.
1. Transaction Structure & Key Parameters
| Financial Parameter | Transaction Details |
|---|---|
| Implied Enterprise Value | S$13.8 Billion (~US$10.9 Billion), including leverage and capital expenditure for committed projects. |
| Cash Consideration | S$6.6 Billion (~US$5.2 Billion) paid in cash over two equal tranches to seller ST Telemedia. |
| Post-Closing Ownership | KKR: 75% | Singtel: 25% |
| Debt Financing | S$5.0 Billion (~US$3.9 Billion) Sustainability-Linked Loan (SLL) facility. |
| Mandated Lead Lenders | DBS Group, OCBC Bank, and United Overseas Bank (UOB). |
| Pre-Existing Investment | Consortium previously injected S$1.75 billion via preference shares and warrants in mid-2024. |
2. S$5 Billion Sustainability-Linked Financing
To fund the buyout and support STT GDC’s pipeline expansion, the KKR-Singtel consortium secured a landmark S$5 billion sustainability-linked loan (SLL), underwritten jointly by Singapore’s three primary banking institutions—DBS, OCBC, and UOB.
Interest margins are tied directly to STT GDC increasing the proportion of renewable energy across its operational electricity mix.
Performance metrics mandate increasing the percentage of certified green data center facilities across its global development footprint.
3. Operational Footprint & Strategic Alignment
STT GDC represents one of the world's most geographically diversified digital infrastructure platforms. The deal significantly shifts the competitive posture of both KKR and Singtel in global cloud and AI hosting:
Operates over 2.3GW of total design capacity across 12 markets, including over 780MW in active operation and 2GW of secured land reserves for AI-ready expansions.
Complements Singtel’s regional Nxera data center unit. Paired with Singtel’s 195,000+ km subsea cable network, STT GDC expands Singtel's Digital InfraCo unit globally.
Expands KKR’s Asia-Pacific infrastructure portfolio—which exceeds US$16 billion—further cementing its position as a dominant digital real estate backer in Asia-Pacific and Europe.
4. Corporate Profiles & Leadership Continuity
Continuity of Management & Strategy
STT GDC retains its corporate identity, brand name, and executive leadership team, led by Bruno Lopez (President & Group CEO). The company will operate as an independent portfolio entity owned by KKR and Singtel, prioritizing growth across core hubs in India, Southeast Asia, the UK, and Continental Europe.
- STT GDC Footprint: 2.3GW design capacity spanning Singapore, India, China, Thailand, Indonesia, the Philippines, Malaysia, Japan, Germany, and the UK.
- Singtel Digital InfraCo: Combines STT GDC, Nxera, RE:AI cloud orchestration, and massive subsea cable assets.
"Supercharging hyperscale cloud and AI deployment across Asia-Pacific and European corridors."
