Canada-based Brookfield Asset Management to buy ATC India in $2 bn deal

Canada-based Brookfield Asset Management will acquire the Indian business of American Tower Corporation (ATC) for an enterprise value of Rs 16,628 crore ($2 billion), the company said on Friday. After its third acquisition in India’s telecom sector in four years, Brookfield is set to become the largest manager of telecom towers in the country.

The deal will see Data Infrastructure Trust (DIT), an infrastructure investment trust sponsored by an affil-iate of Brookfield Asset Management, acquire 100 per cent of equity interests in ATC India. DIT currently houses Brookfield’s telecom tower businesses in India through Summit Digitel and Crest Digitel. “The acquired sites are expected to diversify DIT’s revenues and increase touch points with all mobile network operators in India,” Brookfield said.