Singapore Telecommunications Limited (Singtel) and a KKR-led consortium have acquired ST Telemedia Global Data Centres (STT GDC) in a landmark transaction valued at USD 10.9 billion. The consortium will acquire an 82% stake in STT GDC from parent ST Telemedia for USD 5.1 billion. Upon completion, KKR will hold a 75% stake, while Singtel retains 25%, factoring in the conversion of existing redeemable preference shares.
STT GDC’s footprint in India
STT GDC manages India’s largest raised floor area and critical IT load, operating 28 facilities across 10 cities. Its facilities are highly connected, with carrier-dense interconnections that cater to India’s rapidly growing digital infrastructure demands.
Legal advisors: Indian and international counsel
JSA Advocates & Solicitors served as Indian counsel for Singtel, led by Partners Vikram Raghani and Nisha Kaur Uberoi. Allen & Gledhill advised Singtel in Singapore. AZB & Partners advised KKR in India, with Bharat Budholia, Kirthi Srinivas, and Varun Thakur leading the team.
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KKR will hold 75% stake in STT GDC.
Global legal teams on the deal
Gibson Dunn acted for KKR, with Partners Tyler Cohen, Till Lefranc, James Cox, Oliver Welch, David Wolber, and James Chandler covering corporate, employment, compliance, and tax matters. Simpson Thacher & Bartlett advised the KKR-Singtel consortium, with an extensive team handling M&A, real estate, credit, antitrust, and tax. Latham & Watkins advised ST Telemedia, led by Sharon Lau, Michael Rackham, Adrien Giraud, Chuan Wei Kong, Simon Skinner, and Christine Mainguy.
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Cyril Amarchand Mangaldas advised Tata Communications
Cyril Amarchand Mangaldas advised Tata Communications Limited, which held a stake in STT GDC India. The transaction team included Partners Anu Tiwari, Ravi Dubey, Jeeta Nayak, with support from Associates Amritya Singh and Tejas Chhura.
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Significance of the deal
This acquisition represents one of the largest digital infrastructure transactions in Southeast Asia to-date, highlighting the region’s growing importance in cloud computing, data management, and IT services.
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