KKR Acquires SingTel's Regional Data Centre Unit For $807M
Portfolio Pulse from Shivani Kumaresan
Investment firm KKR & Co Inc has signed an agreement to acquire a 20% stake in Singtel’s regional data center business for $800 million. The investment is part of KKR’s Asia infrastructure strategy and values Singtel’s data center business at $5.5 billion. KKR has the option to increase its stake to 25% by 2027. The proceeds from the transaction will be used to expand the data center business across ASEAN markets.
September 18, 2023 | 2:00 pm
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KKR has acquired a 20% stake in Singtel’s data center business. This investment is part of KKR’s Asia infrastructure strategy and could potentially increase its stake to 25% by 2027.
The acquisition of a stake in Singtel’s data center business is a significant move for KKR, aligning with its Asia infrastructure strategy. However, the short-term impact on KKR's stock price is uncertain as the market has initially reacted negatively, with KKR shares trading lower by 0.64%.
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