Dentons advises funds managed by KKR on its acquisition of ST Telemedia Global Data Centres

London-Dentons has advised funds managed by global investment firm KKR in connection with the acquisition of the remaining 82% stake in ST Telemedia Global Data Centres ("STT GDC") by a KKR-led consortium together with Singtel, for a total consideration of S$6.6 billion (approximately US$5.1 billion), implying an enterprise value of approximately S$13.8 billion (approximately US$10.9 billion), including leverage and capital expenditure for committed projects.

Upon completion, KKR and Singtel will own stakes of 75% and 25% respectively in STT GDC, taking into account the conversion of existing redeemable preference shares that both KKR and Singtel hold in the Company.

Established in 2014 by ST Telemedia and headquartered in Singapore, STT GDC is one of the world's fastest-growing and most diversified data centre platforms with 2.3GW of design capacity across 12 major markets in Asia Pacific and United Kingdom and Europe. It provides critical services including high-quality colocation, connectivity and round-the-clock support services. As demand for AI and cloud services continues to accelerate, it is fuelling the need for new data centres to drive resource-intensive workloads.

Dentons worked alongside lead corporate transaction counsel advising KKR, Simpson Thacher & Bartlett LLP.

The Dentons multi-jurisdictional team advising KKR was led by Corporate partners Stephen Levy and Joseph Collingwood and included Corporate senior associate Dan Stafford and associates Daniel Glantz and Katie de Bruni Celli, with assistance from John Arey and Lucy Moore (Real Estate), Roy Pinnock and Chris Robinson (Planning), Carolyn Burns (Competition), Jen Cass and Sam Caunt (IP) and Brendan Abley and Shanie Earl (Environmental), working alongside Dentons teams in Germany (led by Corporate partner Christoph Papenheim with assistance from counsel Lin Liu) and Italy (led by Corporate partner Luca Pocobelli with assistance from counsel Francesco Crimi and associate Francesco Simonetti).

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