Mega deal worth Rs 16,500 crore, this company will become India’s largest telecom tower operator

Brookfield Asset Management-sponsored Data Infrastructure Trust has announced the signing of an agreement with American Tower Corporation of America to acquire 100% equity stake in ATC India. With this, it will become India’s largest telecom tower operator by surpassing Indus Towers.

Deal worth Rs 16,500 crore

An agreement worth Rs 16,500 crore (about 2 billion dollars) is being signed between the two parties. This deal, done entirely in cash, is one of the largest telecom infrastructure deals in the country. This will be Brookfield’s third telecom acquisition in India in the last four years and will mark American Tower Corp’s exit from the Indian business.

Under the Agreement, ATC will retain the full economic benefit arising from the Optionally Converted Debentures (OCDs) issued by Vodafone Idea, taking into account the total expected cash proceeds and future payments relating to the existing ATC India Receipts. Will be entitled to receive. The proceeds from this deal can be used to repay the existing debts of American Tower.