M&A
Brookfield's Tower InvIT to buy telecom infra firm Space Teleinfra for Rs.900-Cr
Mumbai-based Tower Infrastructure Trust (Tower InvIT), sponsored by Brookfield, is to acquire telecom infrastructure provider Space Teleinfra Pvt Ltd (STIPL) for INR 900 crore and additional milestone-based considerations, which will be funded through a combination of cash and units of Tower InvIT to be issued to selling shareholders. Ambit acted as the exclusive financial advisor to the shareholders who were also advised by Khaitan and Co and Bobby Parikh Associates. Founded in 2016 by Ankit Goel and Radhey R Sharma, STIPL deploys in-building solutions (IBS) at metros, airports, commercial and retail establishments, providing 2G, 3G and 4G network through a common shared infrastructure to telecom operators. It is also expanding in areas such as outdoor small cells.
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