KKR & Co. and Singtel Acquire ST Telemedia Global Data Centres
Analysis based on 43 articles · First reported Feb 01, 2026 · Last updated Feb 09, 2026
The acquisition of ST Telemedia===ST Telemedia Global Data Centres by KKR & Co. and Singtel is a significant event in the digital infrastructure market, reflecting the soaring demand for data centers driven by artificial intelligence and cloud services. This deal, one of Asia's largest data center transactions, is expected to boost the growth of the involved entities and further consolidate the data center industry.
A consortium led by KKR & Co. and including Singtel has signed definitive agreements to acquire the remaining 82% stake in ST Telemedia===ST Telemedia Global Data Centres (STT GDC) from its founding shareholder, ST Telemedia, a wholly-owned subsidiary of Temasek Holdings. The deal is valued at S$6.6 billion ($5.2 billion) in cash, implying an enterprise value of approximately S$13.8 billion for STT GDC. Upon completion, KKR & Co. and Singtel will hold 75% and 25% stakes, respectively, in STT GDC, taking into account the conversion of existing redeemable preference shares. This transaction, which is the largest M&A deal in Singapore in the past four years and Southeast Asia's largest data center transaction ever, is driven by the booming demand for AI computing and cloud services. STT GDC, founded in 2014 and headquartered in Singapore, operates over 100 data centers across 12 major markets in Asia Pacific, the UK, and Europe. The acquisition is expected to close by early in the second half of 2026, subject to regulatory approvals. Citigroup acted as the lead financial advisor and provided acquisition financing to the consortium.
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