Private Equity

PE Fund Investments

Brookfield to buy American Tower Corp assets in India for $2-B

Business Line  

Canadian infrastructure investor Brookfield Asset Management will acquire the Indian business of American Tower Corporation for an enterprise value of INR 16,500 crore (around USD 2 Billion), making it the largest telecom tower operator in India.The acquisition is being done by Data Infrastructure Trust (DIT), an infrastructure investment trust sponsored by an affiliate of Brookfield Asset Management.ATC India has a portfolio of around 78,000 sites across India. Brookfield already has a portfolio of roughly 175,000 towers that were acquired in 2020 from Reliance Industrial Investments and Holdings. This acquisition will take its total tower portfolio to 253,000, while Indus Towers falls to second position with 204,212 towers.This will be Brookfield’s third acquisition in the Indian telecommunications space. In 2022, it also acquired a portfolio of 5,000 indoor business solution sites and small cell sites, which advanced the rollout of 5G and enabled telecom operators to extend their coverage capacity in difficult-to-access and dense areas.ATC India had run into losses with delays in payments especially from Vodafone Idea.