What’s actually nailed down here: KKR and Singtel are buying out ST Telemedia’s remaining 82% of STT GDC for S$6.6 billion, pegging the whole platform at S$13.8 billion enterprise value, with KKR ending up at 75% and Singtel at 25%. That much is confirmed independently by Latham & Watkins’ deal-advisory notice, CNBC’s February 4, 2026 report on the signing, and Data Center Dynamics’ write-up the same week — three sources with no incentive to inflate each other’s numbers arriving at the same figures.
The chronology also holds up: signed in early February 2026, cleared by India’s Competition Commission on July 15, 2026 per ETLegalWorld, and now, per The Edge Singapore, closed as of August 31, 2026. That’s a normal-length regulatory runway for a cross-border infrastructure deal touching a dozen markets, and DCD had already flagged an H2 2026 close as the expected timeline back in February — so the completion date is plausible, even if The Edge is the only outlet in this record actually asserting it happened.
S$13.8 billion buys a lot of rack space, but it doesn’t buy a joint KKR-Singtel press release confirming the closing — and until one shows up, “complete” is doing a lot of work in that headline.
Worth flagging for anyone quoting the headline number: The Edge’s “$6.6 bil” is Singapore dollars, not US dollars — CNBC and DCD both convert that to roughly US$5.1 billion, a distinction that matters when this gets cited as “the largest APAC infrastructure deal” in dollar terms. What would fully validate the story: a joint KKR-Singtel statement confirming closing conditions were satisfied, updated ownership filings reflecting the 75/25 split, and Singtel’s own disclosure tying the deal into its Singtel28 growth plan. Watch whether KKR folds STT GDC’s Asia-Pacific footprint into its CyrusOne and GTR data-center holdings, and whether the AI-driven financing wave that got this deal to S$13.8 billion keeps pricing follow-on APAC data-center M&A at similar multiples.
The deal is the largest M&A transaction in the data center space this year so far, but it falls short of the record $40 billion paid to acquire Aligned last year.
