Global investment firm KKR and Singapore-based Singtel will acquire the remaining 82 percent stake in ST Telemedia Global Data Centres from founding shareholder ST Telemedia for S$6.6 billion (P300 billion), implying an enterprise value of about S$13.8 billion including debt and committed capital spending.
ST Telemedia Global Data Centres is Globe’s partner in a Philippine data center joint venture that holds part of Globe’s data center assets.
Following completion, KKR will own 75 percent of the company and Singtel 25 percent, after the conversion of existing redeemable preference shares held by both investors.
Founded in 2014 and headquartered in Singapore, ST Telemedia Global Data Centres operates across 12 markets in Asia Pacific, the United Kingdom, and Europe, with 2.3 gigawatts of design capacity and a development pipeline of more than 1.7 gigawatts.
Philippine footprint
ST Telemedia Global Data Centres (STT GDC) Philippines operates multiple facilities nationwide and is scaling up capacity.
During the quarter, the venture opened the first data hall at STT Fairview 1 with a 1-megawatt customer deployment, continued fit-out works at the site, and advanced testing and commissioning at STT Cavite 2, as part of plans to lift total capacity to as much as 150 megawatts in the coming years.
—Edited by Miguel R. Camus
