Brookfield buys ATC’s India biz for $2.5bn
Deal puts ATC India’s enterprise value at $2 bn alongside a ‘ticking fee’ accruing from October 1, 2023; Transaction is subject to regulatory approvals and expected to close in H2
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New Delhi: Canadian firm Brookfield is all set to acquire the Indian business of American Tower Corporation (ATC), in a mega $2.5 billion deal that includes $2 billion enterprise value on ATC India alongside a ‘ticking fee’ accruing from October 1, 2023. The transaction is subject to regulatory approvals and expected to close in the second half of 2024.
“Data Infrastructure Trust (DIT), an Infrastructure Investment Trust sponsored by an affiliate of Brookfield Asset Management, today announced the signing of an agreement with ATC to acquire 100 per cent of the equity interests in American Tower’s operations in India (ATC India), for an enterprise value of Rs16,500 crore ($2 bn), which is subject to pre-closing terms as per the securities purchase agreement,” a release by DIT said.
ATC India has a portfolio of approximately 78,000 sites across India.
