KKR invests $400 million in Malaysian subsea cable company

U.S. private equity firm KKR (KKR.N) has signed an agreement to invest $400 million in Malaysian subsea telecommunications cable services provider OMS Group, the companies said in a joint statement on Monday.

Additional details of the transaction were not disclosed in the statement.

The deal marks KKR’s latest investment in Southeast Asia digital infrastructure, adding to its existing investments that includes the regional data center of Singapore Telecommunications and Philippines-based digital infrastructure company Pinnacle Towers.

KKR’s investment will be used to accelerate OMS’ growth, including expanding fleet size and capabilities and investing in cable landing stations and subsea cable routes, the statement said. Reuters