Singapore Telecommunications said on Monday global investment firm KKR will acquire a 20 per cent stake in Singtel's regional data centre business for S$1.1 billion .
"Robust digital infrastructure ... will play a crucial role in enabling Southeast Asia's flourishing digital economy, and Singapore is well-placed to serve as a central hub for the region," said David Luboff, partner and head of Asia-Pacific infrastructure at KKR, in the statement. KKR's investment will be used to accelerate the expansion of Singtel's regional data centre business across Southeast Asia, including Singapore, Indonesia, and Thailand, and explore new markets including Malaysia, the statement said.
The deal also marks KKR's latest investment in Southeast Asia infrastructure and data centre infrastructure globally, adding to its existing investments in the region that includes Pinnacle Towers and Aster Renewable Energy.
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