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The
potential investment in STT Telemedia Global Data Centers (STT
GDC) reflects growing interest and demand for data centers
across Asia Pacific as nations and companies respond to the boom
in artificial intelligence.
The KKR-SingTel consortium is competing with New
York-headquartered alternative investment firm Stonepeak for the
stake of up to 20%, one of the sources said.
A deal could be sealed or announced in early June, the first
source added.
The sources declined to be identified as the information is not
yet public.
KKR declined to comment. SingTel, STT and Stonepeak did not
immediately respond to requests for comment.
New York-based global investment firm KKR bought a 20% stake in
SingTel's regional data centre business last year for S$1.1
billion ($816 million).
In February KKR announced it had raised $6.4 billion for a fund
focused on Asia-Pacific infrastructure and energy-related
assets.
Founded in 2014, STT GDC is one of the fastest growing data
centre providers with operations in Singapore, the UK, Germany,
India, Thailand, South Korea, Indonesia, Japan, the Philippines,
Malaysia and Vietnam, according to its website.
ST Telemedia, parent of STT GDC, is a Singapore-headquartered
strategic investor specializing in assets including
communications and data centers, according to its website.
ST Telemedia is wholly owned by Singapore state investment firm
Temasek Holdings.
(Reporting by Yantoultra Ngui; Additional reporting by Kane Wu
in Hong Kong; editing by Sumeet Chatterjee, Andrew Heavens and
Jason Neely)
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