KKR in talks to buy S’pore-based ST Telemedia GDC in deal valued at over $6.4b: Sources

KKR & Co is in talks to buy ST Telemedia Global Data Centres in a deal that could value the Asian digital infrastructure provider at more than US$5 billion (S$6.4 billion), according to people familiar with the matter.

The US investment firm and ST Telemedia could reach a deal in the coming weeks, the sources said. KKR is already a backer in the closely held data centre company, known as STT GDC, with a 14.1 per cent stake. At a valuation of more than US$5 billion, the deal could be among the largest for KKR in 2025, according to data compiled by Bloomberg.

Discussions are in an advanced stage but a deal could still be delayed or even fall apart, the sources said, asking not to be identified as the information is private. KKR and STT GDC declined to comment. 

Based in Singapore, STT GDC is one of Asia’s largest data centre operators – with more than 100 data centres across 20 major markets, including India, South Korea, Japan and Malaysia.

It also has a presence beyond Asia in countries such as the UK, Italy and Germany. The company provides services such as colocation and connectivity, as well as support services.

A consortium of KKR and Singtel in 2024 invested $1.75 billion for a minority stake in STT GDC after a competitive process.

KKR in 2025 has pulled out the same playbook it deployed during the Covid-19 pandemic by investing through the market turbulence triggered by President Donald Trump’s trade war. 

In April, it won a hotly contested auction for post-trade services firm OSTTRA for an enterprise value of more than US$3 billion and announced an acquisition of Karo Healthcare for more than €2.5 billion (S$3.76 billion), including debt.

More recently, KKR agreed to buy London-listed Spectris, a maker of precision testing equipment and software, for about £4.1 billion (S$7.05 billion). BLOOMBERG