Singapore Telecommunications Limited (Singtel) and a consortium led by KKR have completed the acquisition of ST Telemedia Global Data Centres (STT GDC) for an aggregate consideration of $13.8 billion, in one of Southeast Asia’s largest digital infrastructure transactions to date.
Under the transaction structure, the KKR-Singtel consortium acquired an 82 % stake in STT GDC from its parent ST Telemedia for a reported *US$5.1 billion. Upon completion, KKR and Singtel will hold approximately 75 % and 25 % stakes respectively, taking into account the conversion of existing redeemable preference shares held by the parties.
STT GDC operates an expansive network of data centres globally, including in India, where it manages the largest raised floor area and critical IT load with 28 facilities across 10 cities and carrier-dense interconnections.
Legal Advisory
JSA Advocates & Solicitors – Indian Counsel to Singtel
JSA Advocates & Solicitors advised Singtel on the Indian law aspects of the transaction. The Firm had also advised Singtel on its stake acquisition in Bharti Airtel in the previous year.
Transaction Team Leads
Vikram Raghani, Partner (M&A)
Nisha Kaur Uberoi, Partner (Competition)
Allen & Gledhill – Singapore Counsel to Singtel
Allen & Gledhill advised Singtel on the acquisition as Singapore counsel.
The firm advised on cross-border regulatory, corporate and transactional aspects under Singapore law.
AZB & Partners – Indian Counsel to KKR
Transaction Team
Bharat Budholia, Senior Partner
Kirthi Srinivas, Partner
Varun Thakur, Senior Associate
M&A Advisory
Atreya Bhattacharya, Senior Partner
Heena Ladji, Associate
Shubhalakshmi Bhattacharya, Associate
Harsh Gupta, Associate
Aditya Bamb, Associate
Tansa Shah, Associate
Projects and Due Diligence
Anuja Tiwari, Senior Partner
Mallika Anand, Partner
Tanusmita Ghosal, Senior Associate
Tanishq Khandelwal, Associate
Uday Sehgal, Associate
Vedant Singh, Associate
Urmi Gautam, Articled Clerk
Strategic Guidance
Ashwath Rau, Senior Partner
Gibson, Dunn & Crutcher LLP – Counsel to KKR
Key Team Members
Tyler Cohen, Partner
Till Lefranc, Partner
James Cox, Partner (Employment)
Oliver Welch, Partner (Compliance)
David Wolber, Partner (Compliance)
James Chandler, Partner (Tax)
Simpson Thacher & Bartlett LLP – Counsel to the KKR–Singtel Consortium
Transaction Team
Erik Wang, Partner (M&A)
Ian Ho, Partner (M&A)
Jonathan Hwang, Partner (Real Estate)
Anuj Shah, Partner (Credit)
Makiko Harunari, Partner (Credit)
Jiaying Zhang, Partner (M&A – London)
Preston Miller, Partner (Antitrust)
Étienne Renaudeau, Partner (Antitrust)
Sarah Lindley, Partner (Tax)
Latham & Watkins LLP – Counsel to ST Telemedia
Transaction Team
Sharon Lau, Partner
Michael Rackham, Partner
Additional Advisory
Adrien Giraud, Partner (Regulatory)
Chuan Wei Kong, Partner (Finance)
Simon Skinner, Partner (Tax)
Christine Mainguy, Partner (Tax)
Cyril Amarchand Mangaldas – Counsel to Tata Communications Limited
Cyril Amarchand Mangaldas advised Tata Communications Limited, a shareholder in STT Global Data Centres India.
Transaction Team
Anu Tiwari, Partner (Head – Fintech and FSRP)
Ravi Dubey, Partner (Regional Co-Head – Capital Markets – West)
Jeeta Nayak, Partner
Amritya Singh, Associate
Tejas Chhura, Associate
Transaction Significance
The acquisition underscores the rapid evolution and consolidation of the digital infrastructure and data centre sector across Asia and globally, driven by exponential demand for cloud services, artificial intelligence workloads and enterprise digital transformation.
STT GDC’s extensive footprint across India and Southeast Asia positions the platform to capture sustained demand from hyperscalers, cloud providers and domestic enterprises seeking scalable, carrier-dense connectivity.
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Disclaimer
This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions
