KKR is reportedly in advanced discussions to acquire a controlling stake in ST Telemedia Global Data Centres (STT GDC), an Asian digital infrastructure provider, in a transaction that could value the company at over $5bn, according to a report by Bloomberg citing sources close to the matter.
The US private equity giant and ST Telemedia are said to be nearing an agreement, potentially closing the deal within the coming weeks. KKR currently holds a 14.1% minority stake in the privately held data centre operator, which would mark one of KKR’s largest deals of the year if completed at the reported valuation, Bloomberg data shows.
While talks have progressed significantly, the transaction remains subject to change and could face delays or even collapse, sources added.
Headquartered in Singapore, STT GDC ranks among Asia’s leading data centre operators, managing a network of over 100 facilities across 20 key markets including India, South Korea, Japan, and Malaysia.
The company also maintains a footprint beyond Asia, with sites in the UK, Italy, and Germany, offering a range of services such as colocation, connectivity, and managed support.
Last year, a consortium led by KKR and Singapore Telecommunications (SingTel) invested SGD1.75bn ($1.4bn) for a minority position in the firm following a competitive bidding process.
KKR has been executing a familiar strategy this year, capitalising on market volatility reminiscent of its approach during the pandemic and geopolitical tensions triggered by the US-China trade war.
Earlier this year, KKR emerged victorious in a competitive auction for post-trade services platform OSTTRA at an enterprise value exceeding $3bn and agreed to acquire Karo Healthcare in a deal valuing the company at over €2.5bn ($2.9bn), including debt.
Most recently, the firm confirmed its acquisition of London-listed precision testing equipment and software provider Spectris for approximately £4.1bn ($5.5bn).
