Billion Dollar Data Centre Deal: JSA, CAM, A&G, Gibson Dunn, AZB, Simpson Thacher, Latham on SingTel - KKR acquire ST Telemedia

Singapore Telecommunications Limited (Singtel) and a KKR-led consortium have acquired ST Telemedia Global Data Centres (STT GDC) for an aggregate consideration of $13.8 billion. The KKR - Singtel consortium will acquire 82% stake in STT GDC from its parent STT Telemedia for a total consideration of US$5.1 billion.

In India, STT GDC currently manages largest raised floor area and critical IT load with 28 facilities across 10 cities, together with carrier-dense interconnections.

JSA Advocates & Solicitors served as the Indian counsel for SingTel on this acquisition. Singtel had been advised by JSA on their stake acquisition in Bharti Airtel last year.

The transaction team was led by Vikram Raghani (Partner) and Nisha Kaur Uberoi (Partner).

Allen & Gledhill served as the Singaporean counsel for SingTel.

AZB & Partners served as KKR's Indian counsel for this acquisition.

The transaction team was led by Bharat Budholia (Senior Partner) and Kirthi Srinivas (Partner), along with Varun Thakur (Senior Associate).

Gibson Dunn advised KKR on this transaction.

The Gibson Dunn corporate team was led by Partners Tyler Cohen and Till Lefranc. Additional support was provided by Partner James Cox (Employment); Partners Oliver Welch and David Wolber (Compliance); and Partner James Chandler (Tax).

Simpson Thacher & Bartlett advised the consortium of KKR - Singtel.

The concerned Partners involved in the transaction included Erik Wang and Ian Ho (M&A); Jonathan Hwang (Real Estate); Anuj Shah and Makiko Harunari (Credit); Jiaying Zhang (M&A – London); Preston Miller and Étienne Renaudeau (Antitrust); Sarah Lindley (Tax).

Latham & Watkins advised ST Telemedia on this transaction.

The transaction team was led by Partners Sharon Lau and Michael Rackham.

Partner Adrien Giraud advised on regulatory matters.

Partner Chuan Wei Kong covered finance matters, while Partners Simon Skinner and Christine Mainguy led tax advisory.

Cyril Amarchand Mangaldas advised Tata Communications Limited, who held a stake in STT Global Data Centres India.

The transaction was led by Anu Tiwari (Partner, Head - Fintech and FSRP), Ravi Dubey (Partner, Regional Co-Head - Capital Markets - West) and Jeeta Nayak (Partner), with support from Associates Amritya Singh and Tejas Chhura.

The transaction represents one of the largest digital infrastructure transactions in Southeast Asia to-date.

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

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.