Singtel-KKR Consortium to Invest SG$1.75 Billion in Data Center Provider ST Telemedia

MT Newswires06-19

A consortium comprising Singapore Telecommunications (SGX:Z74) subsidiary Singtel Interactive and KKR-managed fund Ruby Asia Holdings agreed to invest SG$1.75 billion in data center provider ST Telemedia Global Data Centres, according to filings with the Singapore Exchange on Tuesday.

Under the deal, the consortium will invest an initial SG$1.75 billion via redeemable non-voting preference shares in ST Telemedia, with detachable warrants.

When the investors exercise the warrants, the consortium will boost their investments with an additional SG$1.24 billion for an aggregate stake of 18.3% in ST Telemedia, of which 14.1% will be held by KKR and 4.2% will be owned by Singtel Interactive.

ST Telemedia has 95 data centers across 11 geographies. It operates in Singapore, the UK, Germany, India, Thailand, South Korea, Japan, Philippines, Malaysia, and Vietnam.

Price (SGD): S$2.60, Change: S$+0.02, Percent Change: +0.78%

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