Singtel and KKR are nearing a deal to buy ST Telemedia Global Data Centres in a deal that values the assets at more than $13 billion, according to the Wall Street Journal.
Talks are at a very advanced stage, and an announcement could be made soon, according to the Journal, citing "people familiar with the matter".
ST Telemedia, the parent company which is itself a Temasek unit, now owns 80% of STT GDC, with the KKR-led group holding the rest.
Back in 2024, Singtel and KKR had acquired a stake of 18.3% in 2024 for about US$1.3 billion. KKR holds the bigger share at 14.1% while Singtel holds 4.2%.
Singtel is majority held by Temasek too. When asked, a Singtel spokesperson declined to comment for now.
According to its website, STT GDC has more than 100 data centres worldwide, with a combined capacity of more than 2.3 GW.
See also: STT GDC launches power testbed to prepare data centres for AI-era loads
Singtel and KKR are already in their own data centre venture Nxera, which is poised to be a new key growth engine for the telco. The addition of STT GDC will create a much bigger data centre powerhouse.
Singtel shares closed at $4.59 on Jan 30, up 0.44%.
