American Tower Corporation (ATC) is reportedly set to acquire a majority stake in Viom Networks. The transaction is expected to give an enterprise value of Rs 190 billion to Viom Networks, which includes a debt of Rs 65 billion. Viom Networks has appointed Credit Suisse and Citigroup as the advisors for the deal.
The Tata Group, which currently holds a 54 per cent stake in Viom Networks, will continue to hold 26 per cent while the remaining investors ? Srei Infrastructure and other private equity (PE) firms including Macquarie SBI Infrastructure, GIC Investments, IDFC Private Equity and Funderburk Mauritius (Oman Investment Fund) ? will sell their stake. Srei Infrastructure currently holds 18.5 per cent stake while the remaining stake is held by the PE firms.
