Brookfield Asset Management, a leading Canadian investor, is nearing the completion of talks to purchase the entire ownership of ATC India, a subsidiary of American Towers Corporation (ATC), a prominent telecom tower company based in the United States.
If the current discussions materialize into a concrete agreement, it would signify Brookfield Asset Management's second major transaction in this domain. This comes subsequent to their 2019 purchase of Reliance Jio's telecom tower assets for $3.66 billion. Brookfield manages a Data Infrastructure Trust that focuses on telecom tower InvIT, as per a report by moneycontrol.
Brookfield Asset Management has emerged as the frontrunner among potential buyers and is currently in a prime position to acquire a controlling stake in the Indian unit of ATC, as per sources cited by the report. The finalization of the deal is imminent, and an official announcement is anticipated in the near future. The estimated enterprise value for Brookfield's potential acquisition is anticipated to surpass $2 billion.
Having initiated its operations in India back in 2007, ATC India has experienced a significant expansion of its portfolio, now encompassing approximately 75,000 towers. With a nationwide footprint, the company caters to all major telecom service providers operating in the country.
ATC stands as a prominent independent entity involved in the ownership, operation, and development of real estate for wireless and broadcast communication globally. Its worldwide portfolio comprises around 221,000 communication sites. With its main office situated in Boston, Massachusetts, ATC has established offices throughout the United States and in 25 countries across 6 continents.