Data Infrastructure Trust (DIT), along with affiliates of investors including British Columbia Investment Management Corporation (BCI) and GIC, completed the acquisition of 100 per cent of American Tower’s operations in India (“ATC India”). This transaction, approved by the Competition Commission of India, comprises the buyout of approximately 76,000 communications sites in India for an enterprise value of Rs 182 billion (approximately $2.2 billion). With this acquisition, the consortium reinforces its commitment to connecting India with an expanded portfolio of 257,000 telecom sites.
DIT currently houses Summit Digitel and Crest Digitel and is managed by its investment manager, Data Link, an affiliate of Brookfield. With this acquisition, Summit Digitel, Crest Digitel, and ATC India will be combined under the new brand name: Altius. The new brand embodies the organisation’s commitment to developing and managing the highest quality telecom infrastructure that fuels progress and innovation for connecting India. This expanded telecom infrastructure footprint will ensure Altius is well positioned to provide a broader array of solutions to India’s telecom ecosystem.
Commenting on the acquisition, Arpit Agrawal, managing partner and head of Infrastructure, India and Middle East, Brookfield said, “Our expertise, rooted in our history as an owner and operator of high-quality businesses, is exemplified by our acquisition of ATC India. It complements our existing business and further strengthens our footprint, creating the largest tower portfolio in the country and one of the largest platforms globally. We are pleased to continue to support the Digital India initiative with acquisitions of scale.”
Meanwhile, Munish Seth, group managing director, Data Link, said, “We are excited to enter the next phase of growth, where our enhanced digital connectivity will play a crucial role in transforming India’s telecom infrastructure. The acquired sites diversify Altius’ revenue streams creating value for our unit holders, while our scale, operational strength, and innovative capabilities position us to meet the evolving needs of the Indian telecom market and create long-term value for all stakeholders.”
This is Brookfield’s third acquisition in the Indian telecommunications space. In 2022, Brookfield acquired a portfolio of 6,300 indoor business solution sites and small cell sites, which advances the rollout of 5G and enables telecom operators to extend their coverage capacity in difficult-to-access and dense areas. Brookfield also has a portfolio of approximately 175,000 towers that were acquired in 2020 from Reliance Industrial Investments and Holdings Limited.
In India, Brookfield has approximately $29 billion in assets under management across infrastructure, real estate, renewable power and transition and private equity.
