FILE PHOTO A man looks out of the window under a Singtel signage at their head office in Singapore February 12, 2015.
REUTERS/Edgar Su/File Photo Acquire Licensing RightsSept 18 (Reuters) - Singapore Telecommunications (STEL.SI) said on Monday private equity firm KKR (KKR.N) will acquire a 20% stake in the firm's regional data centre business with an investment commitment of up to S$1.1 billion ($806.87 million).
The deal puts the enterprise value of SingTel’s overall regional data centre business at S$5.5 billion ($4.03 billion) and the funds will be used to expand the data centre's business across Southeast Asian markets, including Singapore, Indonesia and Thailand.
The transaction is expected to be completed by the fourth quarter of 2023.
($1 = 1.3633 Singapore dollars)Reporting by Navya Mittal in Bengaluru; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.
Persons:
Edgar Su, David Luboff, Navya Mittal, Muralikumar
Organizations:
REUTERS, Singapore Telecommunications, KKR, Thomson
Locations:
Singapore, Indonesia, Thailand, Asia, Pacific, Bengaluru