For controlling interest in Viom Networks
SREI Infrastructure Finance has entered into definitive agreements with American Tower Corporation for American Tower to acquire a 51% controlling interest in Viom Networks, which owns and operates pan India approximately 42,200 wireless communications towers and 200 indoor distributed antenna systems across India. The stake will be purchased from parties including current managing shareholder, Kanoria Group, several other minority shareholders including IDFC PE Fund II and Tata Teleservices, for a cash consideration of Rs 7635 crore.Under the agreements, American Tower may acquire or be required to acquire all or a portion of the remaining 49% stake in Viom. Additionally, the parties have agreed that, post closing, American Tower's existing Indian portfolio of approximately 14,000 towers will be merged with Viom, resulting in certain ownership adjustments.
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