KKR to Acquire 20% Stake in Singtel’s Regional Data Centre Business Valued at S$5.5 Billion
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Monday, September 18, 2023
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Singtel, Asia's leading communications technology group, and leading global investment firm KKR have reached a definitive agreement under which a fund managed by KKR will commit up to S$1.1 billion (~US$800 million) for a 20% stake in Singtel’s regional data centre business.
Key Points:
- Singtel, Asia's leading communications technology group, and leading global investment firm KKR have reached a definitive agreement under which a fund managed by KKR will commit up to S$1.1 billion (~US$800 million) for a 20% stake in Singtel’s regional data centre business.
- This investment puts the enterprise value of Singtel’s overall regional data centre business at S$5.5 billion.
- The proceeds from this transaction will be used to accelerate the expansion of the regional data centre business across ASEAN markets, including Singapore, Indonesia and Thailand, while exploring markets like Malaysia and others.
- Singtel’s regional data centre business is part of the Digital InfraCo unit which was formed in June 2023.