Fund managed by global investment firm KKR (NYSE:KKR) will park S$1.1B (~US$800M) for a 20% stake in Singtel’s regional data centre business. This investment puts the enterprise value of Singtel’s overall regional data centre business at S$5.5B.
KKR will have the option to increase its stake to 25% by 2027 at the pre-agreed valuation.
The collaboration is a first between Singtel and KKR, and enables Singtel to tap on KKR’s expertise investing in data centres and critical telecommunication infrastructure globally in addition to capital. Singtel’s regional data centre business is part of the Digital InfraCo unit which was formed in June 2023.