The joint venture between global investment fund KKR and Singtel Group has just completed the acquisition of the entire ST Telemedia Global Data Centres (STT GDC), with an enterprise value estimated at 13.8 billion Singapore dollars. This is one of the largest digital infrastructure deals in Southeast Asia, expected to create momentum for STT GDC to expand its scale in existing markets, including Vietnam.
According to the agreement, the joint venture KKR - Singtel will acquire the remaining 82% of STT GDC's shares from the founding shareholder ST Telemedia Group, with a transaction value of about 6.6 billion Singapore dollars. After completion, KKR will hold 75% of shares, Singtel owns 25% of STT GDC, including the conversion of existing preferential shares.
Previously, in 2024, KKR and Singtel invested about 1.3 billion USD in STT GDC. After this investment, the company's portfolio of developing projects has increased from 1.4GW to more than 1.7GW of designed capacity.
STT GDC was established in 2014, headquartered in Singapore, and currently owns a data center platform with a total designed capacity of about 2.3GW in 12 markets in Asia - Pacific, Europe and the United Kingdom. The business provides essential infrastructure services for cloud computing and artificial intelligence.
In Vietnam, STT GDC is strategically cooperating with VNG in operating the STT VNG Ho Chi Minh City 1 Data Center and deploying the STT VNG Ho Chi Minh City 2 Data Center project, with a total information technology power load of more than 69MW. The enterprise affirmed that the acquisition deal does not affect business operations, personnel or service commitments in Vietnam.
