KKR-SingTel consortium frontrunner to buy $1 billion stake in data centre provider, sources say

SINGAPORE :A consortium of U.S. firm KKR and Singapore Telecommunications (SingTel) has emerged because the frontrunner to aquire a minority stake price $1 billion in one amongst Asia’s ideal recordsdata centre suppliers, two sources with records of the topic said.

The doable funding in STT Telemedia Global Records Centres (STT GDC) reflects growing hobby and ask for recordsdata centres across Asia Pacific as worldwide locations and firms answer to the yelp in man made intelligence.

The KKR-SingTel consortium is competing with Unique York-headquartered quite plenty of funding firm Stonepeak for the stake of as much as twenty per cent, one amongst the sources said.

A deal would possibly possibly possibly even be sealed or launched in early June, the first provide added.

The sources declined to be acknowledged because the determining is no longer yet public.

KKR declined to commentary. SingTel, STT and Stonepeak did no longer straight away answer to requests for commentary.

Unique York-essentially essentially based global funding firm KKR sold a 20 per cent stake in SingTel’s regional recordsdata centre enterprise final 365 days for S$1.1 billion ($816 million).

In February KKR launched it had raised $6.4 billion for a fund interested by Asia-Pacific infrastructure and vitality-linked assets.

Basically based in 2014, STT GDC is one amongst the fastest growing recordsdata centre suppliers with operations in Singapore, the UK, Germany, India, Thailand, South Korea, Indonesia, Japan, the Philippines, Malaysia and Vietnam, in accordance with its online page online.

ST Telemedia, guardian of STT GDC, is a Singapore-headquartered strategic investor specialising in assets in conjunction with communications and recordsdata centres, in accordance with its online page online.

ST Telemedia is wholly owned by Singapore command funding firm Temasek Holdings.