The Competition Commission of India has approved acquisition of shares of STT GDC Pte. Ltd by Ruby Asia Holdings II Pte. Ltd. and Singtel Interactive Pte. Ltd. subject to compliance of certain voluntary commitments submitted by the parties.

The proposed transaction involves the acquisition of certain shareholding in STT GDC Pte. Ltd. (STT GDC) by Ruby Asia Holdings II Pte. Ltd. (Ruby Asia) and Singtel Interactive Pte. Ltd. (Singtel).

Ruby is a special purpose vehicle indirectly wholly owned by investment funds, vehicles, and/or accounts advised and managed by various subsidiaries of KKR & Co. Inc.

Singtel is a wholly owned subsidiary of Singtel Telecommunications Limited, a public listed company incorporated in Singapore. The Singtel group is an Asian communications technology group, operating connectivity, digital infrastructure and digital businesses, and has presence in Asia, Australia and Africa.

STT GDC is a wholly owned subsidiary of Singapore Technologies Telemedia Pte Ltd, a Singapore-headquartered group active in communications and media, data centres and infrastructure technologies businesses globally. STT GDC is a data centre provider with a global platform, operating across Singapore, the UK, Germany, India, Thailand, South Korea, Indonesia, Japan, the Philippines, Malaysia and Vietnam. STT GDC is present in India through its indirect subsidiary STT Global Data Centres India Private Limited (STT GDC India). STT GDC India provides data centre colocation services across several metropolitan areas in India.

Detailed order of the Commission will follow.

Competition approval granted subject to voluntary commitments in acquisition of STT GDC shares by Ruby Asia and Singtel. Competition approval has been granted for the proposed acquisition of shareholding in STT GDC Pte. Ltd. by Ruby Asia Holdings II Pte. Ltd. and Singtel Interactive Pte. Ltd., conditional on the parties' compliance with specified voluntary commitments. STT GDC is a global data centre provider present in India through its indirect subsidiary STT Global Data Centres India Private Limited, which provides data centre colocation services across multiple Indian metropolitan areas.