KKR-led group set to buy Singapore data-centre firm valued at over US$10 billion

[SINGAPORE] A KKR-led consortium is nearing a deal to buy ST Telemedia Global Data Centres (STT GDC), which would value the company at more than US$10.22 billion, the Wall Street Journal reported on Saturday (Jan 31), citing people familiar with the matter.

The investment firm will acquire the Singapore-based global data centre provider from its parent company, the report said, adding that KKR is making the acquisition together with Singapore’s largest telco Singtel.

KKR declined to comment on the report, while STT GDC and ST Telemedia did not immediately respond to Reuters’ request for comment outside regular business hours.

In a filing to the Singapore Exchange on Sunday, Singtel noted that its earlier announcement dated Nov 7, 2025 said that the company regularly explores and reviews business opportunities, projects and proposals relating to its business and investments.

“Singtel, as part of a consortium, continues to have discussions in relation to STT GDC. While these discussions are at an advanced stage, there is no certainty that such discussions will lead to any definitive or binding agreement,” the release said.

Singtel said it will make an announcement “if and when there are any material developments” that warrant disclosure in accordance with the company’s obligations under the Listing Manual of the Singapore Securities Exchange Trading Limited.

Reuters reported in November that KKR and Singapore Telecommunications were in advanced talks to buy more than 80 per cent of STT GDC, which would give them full ownership, for over US$3.93 billion.

KKR currently owns about 14 per cent of the firm while Singtel has a stake of more than 4 per cent. The rest is held by ST Telemedia, which is wholly owned by Singapore state investment company Temasek Holdings.

If successful, the deal would rank among Asia’s biggest data centre transactions, with the boom in artificial intelligence creating soaring demand for digital infrastructure.

SEE ALSO

PE giant KKR sells container firm Goodpack back to Lam family in US$1.4 billion deal: source

Founded in 2014 and headquartered in Singapore, STT GDC describes itself as one of the world’s fastest-growing data centre providers.

It operates more than 100 data centres with over 2 gigawatts of IT load across over 20 major markets, including Singapore, India and Japan, as well as Europe via its Virtus brand in the UK, Germany and Italy, according to its website. REUTERS