Data Infrastructure Trust (DIT), sponsored by Brookfield Asset Management, signed a definitive agreement with the US-based American Tower Corporation to acquire 100 percent equity interests in ATC India, ATC announced on Friday.
The acquisition deal is valued at $2.5 billion (₹210 billion).
The transaction is subject to customary closing conditions, including government and regulatory approvals, and is expected to close in the second half of 2024, ATC said in a statement.
Total cash proceeds include an enterprise value on the ATC India operations of approximately $2 billion, plus a ticking fee that accrues from October 1, 2023, to the date of closing.
The Brookfield arm reportedly pipped rival suitor I Squared Capital to bag the acquisition deal.
DIT houses Brookfield’s telecom tower businesses in India through Summit Digitel and Crest Digitel.
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