KKR to acquire stake in SingTel’s regional data centre unit for $807 mln

Singapore Telecommunications (SingTel) said on Monday global investment firm KKR will acquire a 20% stake in SingTel’s regional data centre business for S$1.1 billion ($806.87 million).

The deal puts the enterprise value of SingTel’s overall regional data centre business at S$5.5 billion ($4.03 billion) and the funds will be used to expand the data centre’s business across Southeast Asian markets, including Singapore, Indonesia and Thailand, SingTel and KKR said in a joint statement.

“Robust digital infrastructure…will play a crucial role in enabling Southeast Asia’s flourishing digital economy, and Singapore is well-placed to serve as a central hub for the region,” said David Luboff, partner and head of Asia-Pacific infrastructure at KKR, in the statement.