By P.R. Venkat Private-equity firm KKR has agreed to buy a 20% stake in the regional data center business of Singapore Telecommunications for 1.1 billion...
Private-equity firm KKR has agreed to buy a 20% stake in the regional data center business of Singapore Telecommunications for 1.1 billion Singapore dollars . The telecom company said Monday that the investment to be made by a fund managed by KKR puts the enterprise value of Singtel's overall regional data center business at S$5.
5 billion.Singtel will use proceeds from the sale to expand its regional data center business across Asean markets, including Singapore, Indonesia, and Thailand, while exploring markets like Malaysia and others. "This will widen the business' strategic choices, giving a variety of options to monetise in the future," Singtel said. The transaction is expected to be completed by the fourth quarter of this year, subject to regulatory approvals. "With more than S$6 billion being unlocked since we embarked on our strategic reset two years ago, we continue to focus on unlocking value for our shareholders," Singtel Chief Financial Officer Arthur Lang said.Some of its past investments include Pinnacle Towers, a digital infrastructure platform in Asia with a strong focus on the Philippines; First Gen, a provider of clean and renewable power in the Philippines; and Aster Renewable Energy, a platform that develops, builds, and operates solar, wind, and energy storage projects in the Asian region.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
San Diego expected to approve water-rate hikes of almost 20 percentMonthly fees for most single-family homes would rise from $81.07 to $93.55; hikes would be city's first comprehensive increases since 2015
Read more »
20 Quick & Easy Thanksgiving Table Settings That Prove Less Is MoreSo you can focus on spending time with family—and the bird, of course.
Read more »
2024 Acura Integra Type S 20 hrs ago Photo GalleryView detailed pictures that accompany our 2024 Acura Integra Type S 20 hrs ago article with close-up photos of exterior and interior features. (69 photos)
Read more »
More than 20 veterans spent Saturday in Washington D-C to visit various war memorials.They were a part of the most recent 'Honor Flight' and many consider this one-day excursion 'the trip of a lifetime.'
Read more »
KKR to acquire stake in SingTel's regional data centre unit for $807 million By ReutersKKR to acquire stake in SingTel's regional data centre unit for $807 million
Read more »