Tower Infrastructure Trust (Tower InvIT), a company sponsored by Brookfield, has paid Rs 900 crore ($118.7 million) for India-based telecom infrastructure solutions provider, Space Teleinfra (STIPL), according to various news sources.
The deal was funded through a combination of cash and units of Tower InvIT that will be issued to selling shareholders, according to Business Insider India.
STIPL, which was incorporated in 2016, is a shared telecom infrastructure provider that operates in the hyper-growth industry of data and digitization. The company owns and operates shared in-building communications infrastructure, which is used by wireless carriers, broadcasters and other communications companies to provide services to end users.
STIPL has several large projects across India, ranging from major underground metros and airports to large hospitals, corporate parks, educational institutions, malls, and high-rise residential and commercial complexes with n
