HCMC – Global investment firm KKR and Singapore’s Singtel have signed definitive agreements to acquire full ownership of ST Telemedia Global Data Centres (STT GDC), valuing the data center operator at about S$13.8 billion.
Under the agreements, funds managed by KKR together with Singtel will acquire the remaining 82% stake in STT GDC from founding shareholder ST Telemedia for approximately S$6.6 billion. Following completion, KKR and Singtel will hold 75% and 25% of STT GDC, respectively, including the conversion of existing redeemable preference shares held by both parties.
The transaction is expected to be completed by mid-2026, subject to customary closing conditions and approvals from relevant regulatory authorities. The valuation includes committed project investments and financial support for ongoing developments.
KKR and Singtel had previously invested about US$1.3 billion in STT GDC in 2024 through preference shares and warrants, marking one of the largest digital infrastructure investments in Southeast Asia. Since that investment, STT GDC has expanded its development pipeline from 1.4 gigawatts in 2024 to more than 1.7 gigawatts.
Founded in 2014 by ST Telemedia and headquartered in Singapore, STT GDC operates a global data center platform with a total design capacity of 2.3 gigawatts across 12 markets in Asia-Pacific, the United Kingdom and Europe. The company provides colocation, connectivity and 24/7 operational support services.
The acquisition will not affect STT GDC’s operations, customer service commitments or workforce across its markets, including Vietnam. The company said it will continue to invest in digital infrastructure to support enterprise demand and digital transformation initiatives.
