Simpson Thacher is representing KKR and Singtel (together, the “Consortium”) in connection with the full acquisition of ST Telemedia Global Data Centres (“STT GDC”), a leading data center colocation services provider. Funds managed by the Consortium will acquire the remaining 82% stake in STT GDC (not already held by KKR and Singtel) from founding shareholder ST Telemedia for a total consideration of S$6.6 billion (approximately US$5.1 billion). This represents an implied enterprise value of approximately S$13.8 billion (approximately US$10.9 billion), including leverage and capital expenditure for committed projects.
Upon completion, KKR and Singtel will own stakes of 75% and 25% respectively in STT GDC, taking into account the conversion of existing redeemable preference shares that both KKR and Singtel hold in STT GDC. The transaction is expected to close by early second half of 2026, subject to customary closing conditions, including regulatory approvals.
Headquartered in Singapore, STT GDC is one of the world’s fastest-growing and most diversified data center platforms with 2.3GW of design capacity across 12 major markets in Asia Pacific and United Kingdom and Europe.
The Simpson Thacher team includes Erik Wang, Ian Ho, Nelson Tai, Jasper Ma and Clement Cheung (M&A); Jonathan Hwang, Benjamin Moh, Paul Kim, and Timothy Magarry (Real Estate); Anuj Shah, Makiko Harunari, Eric Ou, Andrew Lai and Mounah Abdallah (Credit); Jiaying Zhang, Matt Fowler, Steven Hood, Ally McCourt and Leo Hutchings (M&A – London); Preston Miller, Étienne Renaudeau, Henry Llewellyn, Dani Rabinowitz, Luke Cowdell, Krystian Kmita, Alexandra Allum-Pearce and Calvin Reeh (Antitrust); Sarah Lindley, Meredith Jones, Sefia Jivraj, Mitchell Li, and Cassandra Hamill (Tax); and Ron Chaim Ben-Yehuda and Chandler Gerard-Reimer (Intellectual Property).