(Reuters) – Telecom tower operator American Tower said on Thursday it would sell its India operations to Canada’s Brookfield Asset Management for $2.5 billion.
The transaction will be carried out by Brookfield’s Indian associate, Data Infrastructure Trust, 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)
