Data Infrastructure Trust (DIT), an Infrastructure Investment Trust backed by Brookfield Asset Management (Brookfield) and investor affiliates including British Columbia Investment Management Corporation (BCI) and GIC, announced on September 12, the successful acquisition of 100 percent of American Tower’s operations in India (ATC India). The transaction approved by the Competition Commission of India (CCI), involves the purchase of approximately 76,000 communication sites for an enterprise value of Rs 182 billion (Rs 18,200 crore), the official release said.
Also Read: Brookfield’s DIT to Acquire ATC India in USD 2 Billion Deal
New Brand Launch: Altius
Reportedly, with this acquisition the Brookfield-led consortium now boasts an expanded portfolio of 257,000 telecom sites across India. DIT, which already includes Summit Digitel and Crest Digitel, will now combine these assets with ATC India under a newly launched brand, Altius. With this, Altius has become India's largest tower infrastructure company.
"The new brand embodies the organisation’s commitment to developing and managing the highest quality telecom infrastructure that fuels progress and innovation for connecting India. This expanded telecom infrastructure footprint will ensure Altius is well positioned to provide a broader array of solutions to India’s telecom ecosystem," the joint statement said.
Also Read: Indus Towers to Become Bharti Airtel Subsidiary After Buyback Exercise
Supporting Digital India Initiative
Arpit Agrawal, Managing Partner and Head of Infrastructure at Brookfield said, "Our expertise, rooted in our history as an owner and operator of high-quality businesses, is exemplified by our acquisition of ATC India. It complements our existing business and further strengthens our footprint, creating the largest tower portfolio in the country and one of the largest platforms globally. We are pleased to continue to support the Digital India initiative with acquisitions of scale."
Munish Seth, Group Managing Director of Data Link said, "We are excited to enter the next phase of growth, where our enhanced digital connectivity will play a crucial role in transforming India's telecom infrastructure. The acquired sites diversify Altius’ revenue streams creating value for our unit holders, while our scale, operational strength, and innovative capabilities position us to meet the evolving needs of the Indian telecom market and create long-term value for all stakeholders."
Brookfield noted that this is its third acquisition in the Indian telecommunications space. In 2022, Brookfield acquired a portfolio of 6,300 indoor business solution sites and small cell sites, which advances the rollout of 5G and enables telecom operators to extend their coverage capacity in difficult-to-access and dense areas.
Also Read: Cellnex Portugal Plans Acquisition of Six Telecom Towers from NOS Technology
Brookfield's Telecom Infrastructure Assets in India
Brookfield also has a portfolio of approximately 175,000 towers that were acquired in 2020 from Reliance Industrial Investments and Holdings Limited. In India, Brookfield has approximately USD 29 billion in assets under management across Infrastructure, Real Estate, Renewable Power and Transition and Private Equity.
