The British Columbia Investment (BCI) has acquired an additional 4.8 per cent stake in Brookfield’s tower infrastructure investment trust (InvIT) – Data Infrastructure Trust. The investment was made through a block deal worth around Rs 20 billion.
This is the second time BCI has invested in the tower InvIT. BCI had previously picked up around 2 per cent stake in the tower InvIT, when Brookfield sold its share through an offer for sale raising Rs 23.31 billion, the first transaction of its kind by an InvIT in India. BCI currently holds around 7 per cent stake in Data Infrastructure Trust.
Meanwhile, Brookfield has already sold more than 10 per cent of its stake in the Data Infrastructure Trust through two transactions. The purpose of these transactions is to reduce Brookfield’s stake in the InvIT to 75 per cent, which is the minimum public shareholding requirement. The infrastructure investment trust owns telecom towers, with Reliance Jio as its primary tenant.