CVC DIF, the dedicated infrastructure investment strategy of global private markets manager CVC, has signed an agreement to acquire a Canadian wireless tower business from SBA Communications. Financial terms were not disclosed.
SBA Canada is one of the largest independent wireless tower portfolios in Canada, owning and operating a diversified portfolio of approximately 500 owned and managed wireless communication sites strategically located across high-growth urban, suburban and rural markets. The company’s portfolio is underpinned by long-term contracts featuring escalation mechanisms and long-duration site control.
SBA Canada plays a prominent role in supporting the expansion of next-generation 5G and broadband networks for Canadian mobile network operators and connectivity providers. CVC DIF’s investment in the company will be made through the DIF Infrastructure VIII, a build-to-core vehicle with a fund size of €6 billion ($7 billion).
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