Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS
SINGAPORE/HONG KONG, Nov 6 (Reuters) – KKR & Co and Singapore Telecommunications are in advanced talks to buy more than 80% of ST Telemedia Global Data Centres – which would give them full ownership – for over S$5 billion ($3.9 billion), two people with direct knowledge of the plans said.
KKR currently owns about 14% of the firm while Singtel has a stake of more than 4%. The rest of the company is held by ST Telemedia, which is wholly owned by Singapore state investor Temasek Holdings (TEM.UL).
KKR and ST Telemedia Global Data Centres declined to comment. ST Telemedia and Singtel did not immediately respond to Reuters queries.
If successful, the deal would rank among Asia’s biggest data centre transactions, with the boom in artificial intelligence creating soaring demand for digital infrastructure.
The sources declined to be identified as the matter is private.
Reporting by Yantoultra Ngui in Singapore and Kane Wu in Hong Kong; Editing by Sumeet Chatterjee and Edwina Gibbs
