Brookfield-led Consortium Completes Acquisition of ATC India Operations

Brookfield Completes Acquisition of ATC India Operations for USD 2.2 Billion
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.

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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.

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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.”