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Singapore Telecommunications (SingTel), a major player in the digital sphere, has struck a deal with global investment firm KKR.

  • The Deal: KKR is acquiring a 20% stake in SingTel’s regional data center business. To put it in numbers, we’re talking about a deal worth S$1.1B ($806.87M).
  • The Implication: With this agreement, the valuation of SingTel’s regional data center business increased to S$5.5B ($4.03B).
  • The Why: The funds from this deal will be used by SingTel to expand their data center operations across Southeast Asian markets, propelling the growth of the region’s digital economy.
  • The Future: SingTel has plans to use KKR’s investment to bolster its regional data center business in countries like Singapore, Indonesia, and Thailand, with Malaysia potentially joining the list. The growth projections look promising, with SingTel’s data center portfolio expected to expand to a capacity of over 155 megawatt in 2025, potentially scaling up beyond 200 megawatt.
  • Fun Fact: This is not KKR’s first foray into Southeast Asia’s infrastructure and global data center infrastructure.

This ambitious transaction is expected to wrap up by the fourth quarter of 2023.

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