KKR and Singtel to acquire remaining stake in data center firm STT GDC for over $5 billion [CNBC]
SINGAPORE TELECOM S/ADR (SGAPY)
NASDAQ:AMEX Investor Relations:
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Source: CNBC
The deal pegs the enterprise value at S$13.8 billion. In this article A KKR logo displayed on the floor of the New York Stock Exchange on Aug. 23, 2018. Brendan McDermid | Reuters Private equity firm KKR and Singapore Telecommunications will acquire the remaining 82% stake in data center operator ST Telemedia Global Data Centres for 6.6 billion Singapore dollars ($5.1 billion), KKR said in a statement on Wednesday. The deal pegs the enterprise value at S$13.8 billion and comes at a time when there has been a rush in data center demand led by the boom in artificial intelligence. Following completion, KKR will hold a 75% stake in STT GDC, while Singtel will own the remaining 25%, taking into account the conversion of existing preference shares held by both investors. KKR said the deal represents its largest infrastructure investment in Asia Pacific to date, as global investment in data centers accelerates on rising need for cloud computing and artificial intelligence work
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News
- KKR and Singtel to fully acquire STT GDC for $5.1bn [Yahoo! Finance]Yahoo! Finance
- KKR and Singtel to take full ownership of data center firm STT GDC for about $5 billion [MSNBC.com]MSNBC.com
- KKR and Singtel to acquire remaining stake in data center firm STT GDC for over $5 billion [MSNBC.com]MSNBC.com
- KKR, Singtel consortium to pay $5.2 billion to take full control of STT GDC [Yahoo! Finance]Yahoo! Finance
- KKR-Led Consortium with Singtel Group to Fully Acquire ST Telemedia Global Data Centres at S$13.8 Billion Enterprise Value [Yahoo! Finance]Yahoo! Finance