ST Telemedia Global Data Centres receives S$1.75 billion investment

On June 18, Singapore-based ST Telemedia Global Data Centres (STT GDC) announced that a consortium made up of the investment firm KKR and the technology group Singtel is investing S$1.75 billion (around $1.3 billion U.S. dollars) into the company, marking the largest digital infrastructure investment made in Southeast Asia this year. ST Telemedia (STT) remains the majority shareholder of STT GDC.

STT GDC reports that the investment will better position it in its operating markets and support its international expansion and growth plans.

Bruno Lopez, President & Group CEO of STT GDC, said in a press release, “We are thrilled to welcome KKR and Singtel, two blue-chip investors in the digital infrastructure space, into the STT GDC group. Since our inception 10 years ago, STT GDC has developed into a leading data center provider with a significant footprint in Asia, the UK, and Europe, supporting the growth of the world’s largest cloud and enterprise customers. With the industry experiencing unprecedented cloud and AI-led growth, this strategic partnership with KKR and Singtel will be a significant catalyst for STT GDC’s next chapter of growth as a leader in the digital infrastructure industry.”

The consortium members were selected by STT and STT GDC through an independent competitive process. The initial investment made by the consortium is in the form of Redeemable Preference Shares (RPS) with detachable warrants. STT GDC reported that an additional S$1.24 billion will be invested when the warrants are exercised in full.

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