KKR-led group nears deal to buy Singapore data-center firm STT GDC: WSJ
KKR-led consortium with Singtel nears a deal to acquire ST Telemedia Global Data Centres, valuing the firm at over $10 billion amid surging AI-driven demand
 "KKR-led group nears deal to buy Singapore data-center firm STT GDC: WSJ")
A KKR-led consortium is nearing a deal to buy ST Telemedia Global Data Centres (STT GDC), which would value it at more than S$13 billion ($10 billion), the Wall Street Journal reported.
The investment firm will acquire the Singapore-based global data centre provider from its parent company, the WSJ report, which cited people familiar with the matter, added.
KKR (KKR.N), opens new tab is making the acquisition with Singaporean telecommunications giant Singtel (STEL.SI), opens new tab, it said.
Singtel said in a statement it continues to have talks in relation to STT GDC as part of a consortium, adding that while these discussions are at an advanced stage, there is no certainty they will lead to any definitive or binding agreement.
KKR declined to comment on the report, while STT GDC and ST Telemedia did not respond to requests for comment.
Reuters reported in November that KKR and Singapore Telecommunications were in advanced talks to buy more than 80% of ST Telemedia Global Data Centres, which would give them full ownership, for over S$5 billion ($3.93 billion).
KKR owns about 14% of the firm while Singtel, the city-state's biggest telecom operator, has a stake of more than 4%. The rest is held by ST Telemedia, which is wholly owned by Singapore state investor 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.
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.
($1 = 1.2721 Singapore dollars)