Brookfield Infra buys Indian Telecom Towers; deal equity value is $3.7 bn

Brookfield Infrastructure Partners, alongside its institutional partners, on Monday said it has entered into binding agreements to acquire a 100 per cent stake in a telecom tower company in India from Reliance Industrial Investments and Holdings Limited (RIIHL), a wholly-owned subsidiary of Reliance Industries Limited (RIL). The total equity requirement is $3.7 billion, of which Brookfield Infrastructure will invest approximately $375 million, with the balance being funded by its institutional partners.

Brookfield Infrastructure is acquiring a portfolio of approximately 130,000 communication towers that forms the infrastructure backbone of Reliance Jio’s (Jio) telecom business. These are recently constructed assets that are