Reported Late Thursday, American Tower Concludes Strategic Review With Agreement To Sell Operations In India To Brookfield For $2.5B

Author: Benzinga Newsdesk | January 05, 2024 02:25am

American Tower has signed a definitive agreement with Data Infrastructure Trust ("DIT"), an Infrastructure Investment Trust sponsored by an affiliate of Brookfield Asset Management, pursuant to which DIT will acquire 100% of the equity interests in American Tower's operations in India ("ATC India"). DIT currently houses Brookfield's telecom tower businesses in India through Summit Digitel and Crest Digitel.

Total cash proceeds to American Tower at closing, subject to certain pre-closing terms, would potentially represent up to approximately INR 210 billion, or $2.5 billion at today's exchange rates. The transaction, which reflects the completion of the previously announced strategic review of American Tower's operations in India, is subject to customary closing conditions, including government and regulatory approvals, and is expected to close in the second half of 2024.

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