The Business Times
business-time-50

Singtel sees S$1.1 billion KKR deal bringing new customers, technologies to the table

google-preferred-sourceAdd BT as a preferred source
Yong Jun Yuan
Mia Pei

Yong Jun Yuan &

Mia Pei

Published Mon, Sep 18, 2023 · 08:22 AM
    • The investment puts the enterprise value of Singtel’s overall regional data centre business at S$5.5 billion.
    • The investment puts the enterprise value of Singtel’s overall regional data centre business at S$5.5 billion. PHOTO: SINGTEL

    GLOBAL investment firm KKR will commit up to S$1.1 billion for a 20 per cent stake in Singtel’s regional data centre business.

    In a media briefing on Monday (Sep 18), Singtel said the move will give the telco access to a wider network of global customers. It also hopes to tap KKR’s network of companies that develop new data centre cooling technologies.

    Stellar Asia Holdings II, a fund managed by KKR, has entered into an agreement with Singtel for the investment in ST Dynamo Investment, the holding company for Singtel’s regional data centre (RDC) business.

    KKRSingtelData centresSpotlight

    TRENDING NOW

    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

    Qatari LNG ship struck in Strait of Hormuz, testing US talks

    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS, OCBC and UOB shares hit all-time highs as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

    ‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis

    Singapore is ranked as the world’s most expensive city for cars and placed third globally for residential property, according to Julius Baer.

    Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More