Brookfield invests $3.7b in telecom tower assets
Investors - JULY 22, 2019

Brookfield invests $3.7b in telecom tower assets

by Andrea Zander

Brookfield Asset Management has plans to invest $3.66 billion of Reliance Industries’ telecommunications assets in the single-biggest private equity deal ever in India.

Brookfield and its co-investors will acquire units to be issued by the trust, which is sponsored by Reliance Industrial Investments & Holdings.

Details of the transactions were not disclosed. The transaction is subject to regulatory and government approvals.

After the deal is closed, the Canadian alternative assets manager, Brookfield and its partners, would become the sponsors of the trust, holding 100 percent of India’s largest telecom tower company, with 170,000 towers through Tower Infrastructure Trust, while the Reliance Industries subsidiary would become a co-sponsor, although would hold no units.

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