Brookfield to buy ATC’s India business for $2.5 billlion

In a mega M&A deal in the telecom tower space, Brookfield Asset Management on Friday said that it will acquire 100% stake in American Tower Corporation’s (ATC) India business for $2.5 billion (Rs 21,000 crore), which includes $2 billion (Rs 16,500 crore) enterprise value along side a ‘ticking fee accruing from October 1, 2023.

Earlier, Miami-based infrastructure investment group, I Squared Capital was in talks to acquire ATC’s tower assets in India at an enterprise value of around $1.5-$1.75 billion.

The acquisition, which Brookfield is doing via its affiliate Data Infrastructure Trust (DIT), will make it the largest telecom tower operator in India, surpassing Indus Towers.