American Tower to sell India operations to Brookfield for $2.5 bln (updated)

Altius Telecom Infrastructure Trust

05/01/2024 03:34

(Adds details in paragraphs 3-6)
       Jan 4 (Reuters) - Telecom tower operator American Tower
 AMT.N  said on Thursday it would sell its India operations to
Canada's Brookfield Asset Management  BAM.TO  for $2.5 billion.
    The transaction will be carried out by Brookfield's Indian
associate, Data Infrastructure Trust  DATN.BO , and is expected
to close in the second half of 2024.
    The deal values ATC's Indian operations at an enterprise
value of around $2 billion and includes ticking fees worth $500
million.
    The ATC deal is asset manager Brookfield's third telecom
acquisition in the country over the last four years.
    "The acquired sites are expected to diversify DIT's revenues
and increase touch points with all mobile network operators in
India," Brookfield said in a statement.
    
    

 (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Savio
D'Souza and Rashmi Aich)
 ((rishabh.jaiswal@thomsonreuters.com;))