Mega tower deal: Brookfield to buy Indian ATC business for $2 billion

New Delhi: Canada-based Brookfield will acquire the Indian business of American Tower Corporation (ATC) for an enterprise value of Rs 16,628 crore ($2 billion), a release said on Friday.

The transaction is subject to regulatory approvals and expected to close in the second half of 2024.

“Data Infrastructure Trust (DIT), an Infrastructure Investment Trust sponsored by an affiliate of Brookfield Asset Management, today announced the signing of an agreement with ATC to acquire 100 per cent of equity interests in American Tower’s operations in India (ATC India), for an enterprise value of Rs 16,628 crore ($2 billion) which is subject to pre-closing terms as per the securities purchase agreement,” it said.