DigitalBridge Investments, an affiliate of DigitalBridge Group, has agreed to acquire the mobile telecommunications tower business of Telenet Group Holding in an all-cash transaction valued at €745 million ($819 million).
The deal with Telenet, a provider of entertainment and telecommunications services in Belgium, will provide DigitalBridge with ownership of 100 percent of Telenet’s passive infrastructure and tower assets, including TowerCo’s nationwide footprint of 3,322 sites in Belgium.
The transaction is being funded via a combination of debt and equity financing, including a €470 million ($517 million) commitment from DigitalBridge’s balance sheet.
“Telenet’s tower business is a high-quality digital infrastructure asset with stable, predictable cash flows, high cash conversion, and long-term contracts,” said Marc Ganzi, president and CEO of DigitalBridge. “We see significant headroom for growth in the Belgian telecom market through the en