SingTel-KKR Consortium Invests $1.3 Billion in ST Telemedia Global Data Centres
June 20, 2024, 9:37 pm
Location: Singapore
Employees: 51-200
Founded date: 2014
Total raised: $1.3B
A consortium led by US investment firm KKR and Singapore Telecommunications has poured $1.3 billion into ST Telemedia Global Data Centres, a major player in the data centre industry in Asia. The deal, which was finalized on June 18, marks a significant investment in digital infrastructure in Southeast Asia.
ST Telemedia Global Data Centres, a Singapore-based provider of data centre colocation services, announced that the consortium, which includes Singtel, had signed formal agreements to invest in the company. The consortium has purchased redeemable preference shares with detachable warrants as part of the transaction, with the potential for an additional investment of $920 million upon full exercise of the warrants.
The selection of the consortium was the result of a competitive process conducted by ST Telemedia and STT GDC, taking into account factors such as financial stability, business plan, and industry experience. The investment will be used to bolster STT GDC's position in the market and support its growth and expansion plans.
ST Telemedia remains the majority owner of STT GDC following the transaction. Bruno Lopez, President & Group CEO of STT GDC, expressed optimism about the partnership with KKR and Singtel, stating that it will drive the company's growth in the digital infrastructure industry.
Stephen Miller, founder of ST Telemedia, emphasized the company's commitment to supporting the development and expansion of STT GDC. With the industry experiencing rapid growth driven by cloud and artificial intelligence technologies, the investment from the consortium is expected to propel STT GDC into its next phase of growth as a leader in the digital infrastructure sector.
ST Telemedia Global Data Centres, a Singapore-based provider of data centre colocation services, announced that the consortium, which includes Singtel, had signed formal agreements to invest in the company. The consortium has purchased redeemable preference shares with detachable warrants as part of the transaction, with the potential for an additional investment of $920 million upon full exercise of the warrants.
The selection of the consortium was the result of a competitive process conducted by ST Telemedia and STT GDC, taking into account factors such as financial stability, business plan, and industry experience. The investment will be used to bolster STT GDC's position in the market and support its growth and expansion plans.
ST Telemedia remains the majority owner of STT GDC following the transaction. Bruno Lopez, President & Group CEO of STT GDC, expressed optimism about the partnership with KKR and Singtel, stating that it will drive the company's growth in the digital infrastructure industry.
Stephen Miller, founder of ST Telemedia, emphasized the company's commitment to supporting the development and expansion of STT GDC. With the industry experiencing rapid growth driven by cloud and artificial intelligence technologies, the investment from the consortium is expected to propel STT GDC into its next phase of growth as a leader in the digital infrastructure sector.