Prior notification of a concentration (Case M.11315 – KKR / SINGTEL / ST DYNAMO INVESTMENT) – Candidate case for simplified procedure
Date: 2023-10-17
Institutions: Directorate-General for Competition, European Commission
Subjects: Indonesia, Singapore, Thailand, computer centre, economic concentration, investment company, merger control, telecommunications








C_202300279EN.000101.fmx.xml












Official Journal of the European Union


EN
Series C













C/2023/279


17.10.2023






Prior notification of a concentration
(Case M.11315 – KKR / SINGTEL / ST DYNAMO INVESTMENT)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2023/279)


1.   
On 6 October 2023, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


KKR & Co. Inc. (‘KKR’), United States,










—


Singapore Telecommunications Limited (‘Singtel’), Singapore.




KKR and Singtel will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of ST Dynamo Investment Holdings Pte. Ltd. (‘ST Dynamo Investment’), which is currently under the sole control of Singtel.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are the following:






—


KKR is a global investment firm that offers alternative asset management as well as capital markets and insurance solutions,










—


Singtel is a telecommunications group headquartered in Singapore and listed on the mainboard of the Singapore Exchange. The principal activities of Singtel consist of the operation and provision of telecommunications systems and services, and investment holding.






3.   

The business activities of the ST Dynamo Investment are the following: ST Dynamo Investment is a company headquartered in Singapore. It owns and operates a data centre platform in Southeast Asia. It currently has data centres in Singapore and is expanding its business into Thailand and Indonesia.



4.   
On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.
Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


5.   
The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M.11315 – KKR / SINGTEL / ST DYNAMO INVESTMENT
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
Postal address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  
            OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  
            OJ C 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2023/279/oj
ISSN 1977-091X (electronic edition)