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KKR in Potential Talks to Acquire ST Telemedia, say Sources
July 28, 2025
US private equity firm KKR is said to be in advanced discussions to acquire Singapore-based ST Telemedia Global Data Centres (STT GDC) in a transaction potentially exceeding $5bn, as cited by Reuters. KKR already holds a 14.1% stake in STT GDC, having invested S$1.75bn ($1.37bn) in 2024 alongside Singapore Telecommunications (Singtel), with options to inject a further S$1.24bn ($970mn) if warrants are exercised. STT GDC operates over 95 data centres across 11 geographies, serving major markets across APAC and Europe. While some have suggested that the talks may indicate a move toward full ownership, neither KKR nor ST Telemedia has officially confirmed the acquisition discussions.
ST Telemedia’s bonds were trading with a positive bias, with its SGD 4.1% Perp at 101.4, yielding 3.4%.
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