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Singtel agrees to sell 20% data centre stake to KKR for USD806m

18 Sep 2023

Singapore’s Singtel announced today that Stellar Asia Holdings II, a fund managed by global investment firm Kohlberg Kravis Roberts & Co (KKR), has entered into an agreement to commit up to SGD1.1 billion (USD806 million) for a 20% stake in ST Dynamo Investment Holdings, the holding company for Singtel’s regional data centre business. The investment puts the enterprise value of Singtel’s overall regional data centre business at SGD5.5 billion, and Stellar will have the option to increase its stake to 25% by 2027 at the pre-agreed valuation. The investment is subject to satisfaction of certain conditions precedent including regulatory approval.

Singapore, Kohlberg Kravis Roberts & Co (KKR), Singtel Group

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