CCI Approves Acquisition of STT GDC by Opal Bidco

The Competition Commission of India (CCI) has approved the proposed acquisition of 100% shareholding in STT GDC Pte. Ltd. by Opal Bidco Pte. Ltd. The approved transaction also involves Ruby Asia Holdings II Pte. Ltd. (Ruby), Singtel Interactive Pte. Ltd. (Singtel), Sunstone Investment Pte. Ltd. (Sunstone) and One Hundred And Thirty First Investment Company – Sole Proprietorship LLC (MIC Entity) acquiring an economic interest, on a see-through basis, in STT GDC. 

Entities Involved in the Transaction 

Opal Bidco is a special purpose vehicle (SPV) indirectly wholly owned by investment funds, vehicles and/or accounts advised and managed by subsidiaries of KKR & Co. Inc. 

Ruby is also an SPV indirectly wholly owned by investment funds, vehicles and/or accounts advised and managed by KKR subsidiaries. 

Singtel is a wholly owned subsidiary of Singapore Telecommunications Limited. The Singtel Group provides connectivity, digital services and digital infrastructure, with operations across Asia, Australia and Africa. 

Sunstone is a Singapore-incorporated SPV established for the purpose of holding investments. 

MIC Entity is an indirect wholly owned subsidiary of Mubadala Investment Company PJSC, a public joint stock company in the United Arab Emirates that is wholly owned by the Government of Abu Dhabi. 

About STT GDC 

STT GDC is a direct subsidiary of STT Communications Ltd. and an indirect subsidiary of Singapore Technologies Telemedia Pte. Ltd., a Singapore-headquartered group engaged globally in communications and media, data centres, and infrastructure technologies. 

The company operates as a data centre provider. In India, it is present through its indirect subsidiary, STT Global Data Centres India Private Limited, which is one of the data centre companies operating in the country.