KKR to acquire 20% stake in Singtel’s regional data centre business
The global investment company will commit up to $1.1b.
US-based global investment company KKR will acquire a 20% stake in Singtel’s regional data centre (DC) business for $1.1b.
In a bourse filing, Singtel said KKR’s investment will boost the enterprise value of its overall regional DC business to $5.5b.
Under the parties’ agreement, KKR will have the option to increase its stake to 25% by 2027 at the pre-agreed valuation.
Singtel’s regional DC business is part of its Digital InfraCo unit formed in June 2023.
Singtel currently has a 62MW capacity in Singapore, which is expected to grow with the addition of its 58MW DC Tuas.