Keppel DC REIT acquires remaining 51% stake in two Singapore data centres

The purchase price is $8.4m, subject to adjustments.

Keppel DC REIT has acquired the remaining stakes in two data centre buildings, Keppel DC Singapore 7 and Keppel DC Singapore 8, from Keppel.

The REIT’s trustee, Perpetual (Asia) Limited, exercised the call option and entered into a sale and purchase agreement to acquire the remaining 51% of the shares in Memphis 1 from Keppel Griffin. Memphis 1 holds KDC Singapore 7 and 8. Keppel Griffin is an indirect wholly-owned subsidiary of Keppel.

According to their bourse filing, the consideration price was approximately $8.4m, subject to completion adjustments.

Keppel DC REIT said on 3 September that the acquisition has been completed, and it now holds 100% interest in Memphis 1 and, in turn, the two data centres.

It was also disclosed that the purchase will be funded by debt and/or existing cash, and the acquisition is not expected to have any material impact on Keppel DC REIT’s net asset value and distribution per unit for the financial year ending 31 December 2025.