Canada-based Brookfield has announced its acquisition of American Tower Corporation's (ATC) Indian business for an enterprise value of USD 2 billion, subject to regulatory approvals. According to a release, the Data Infrastructure Trust (DIT), sponsored by a Brookfield Asset Management affiliate, has signed an agreement to acquire 100% equity interests in ATC's Indian operations (ATC India).
The agreement outlines the acquisition of ATC India for an enterprise value of Rs 16,500 crore (USD 2 billion) subject to pre-closing terms specified in the securities purchase agreement. ATC India boasts a portfolio of around 78,000 sites nationwide.
This acquisition marks Brookfield's third venture in the Indian telecommunications sector. In 2022, Brookfield acquired a portfolio of 5,000 indoor business solution sites and small cell sites, furthering the deployment of 5G technology and aiding telecom operators in expanding coverage capacity, particularly in challenging and densely populated areas. Additionally, in 2020, Brookfield acquired a portfolio of nearly 175,000 towers from Reliance Industrial Investments and Holdings Ltd.
ATC India will merge into DIT, encompassing the existing telecommunications assets within its portfolio.