ST Telemedia Global Data Centres (STT GDC), a leading data center colocation services provider, announced a significant investment from a consortium led by KKR and Singtel. The consortium will invest SGD 1.75 billion (~USD 1.3 billion) initially through Redeemable Preference Shares (RPS) with detachable warrants. This investment represents the largest digital infrastructure deal in Southeast Asia in 2024. Upon full exercise of the warrants, the consortium will contribute an additional SGD 1.24 billion (~USD 920 million).
The investment follows an independent competitive selection process by STT and STT GDC, focusing on the consortium’s expertise, financial strength, and strategic vision. The funds will support STT GDC’s ongoing international expansion and growth plans through both organic and inorganic strategies. Post-transaction, ST Telemedia will retain its position as the majority shareholder of STT GDC.
STT GDC, headquartered in Singapore, is among the world’s fastest-growing data center providers, operating over 95 data centers across 11 countries and serving more than 20 major business markets. With a combined capacity of over 1.7GW of IT load, STT GDC offers high-quality colocation, connectivity, and round-the-clock support services, solidifying its critical role in the digital infrastructure landscape.
Key Points:
- Investment Details: SGD 1.75 billion (~USD 1.3 billion) initially, with a potential additional SGD 1.24 billion (~USD 920 million) from the KKR-led consortium.
- Selection Process: Chosen for their expertise, financial strength, and strategic vision.
- STT GDC Profile: Headquartered in Singapore, with 95+ data centers in 11 countries and over 1.7GW of IT load capacity.
- Strategic Use: Funds to support international expansion and growth, maintaining ST Telemedia as the majority shareholder.
- Industry Impact: Largest digital infrastructure investment in Southeast Asia for 2024.
