Brookfield-led consortium completes Rs 18,200 crore acquisition of ATC; becomes India's top towerco

With this acquisition, it stated the Brookfield-led consortium now boasts a portfolio of 257,000 telecom sites across India.

Data Infrastructure Trust (DIT), aan Infrastructure Investment Trust backed by Brookfield Asset Management and investor affiliates such as British Columbia Investment Management Corporation (BCI) and GIC, announced on September 12, the successful acquisition of 100% of American Tower’s operations in India (ATC India). The deal, it said, approved by the Competition Commission of India (CCI), involves the purchase of approximately 76,000 communication sites for an enterprise value of Rs 182 billion (Rs 18,200 crore).

With this acquisition, it stated the Brookfield-led consortium now boasts a portfolio of 257,000 telecom sites across India. DIT, which already includes Summit Digitel and Crest Digitel, will now combine these assets with ATC India under a newly launched brand, Altius. With this, Altius has become India's largest tower infrastructure company, pipping Indus Towers.

Altius aims to lead the telecom infrastructure market in India, supporting the country's growing connectivity needs with high-quality telecom solutions. The combined portfolio, it said, enhances the ability to provide a wider range of services to telecom companies, ensuring comprehensive coverage across the nation.

Arpit Agrawal, Managing Partner and Head of Infrastructure at Brookfield, noted that the acquisition of ATC India enhances their existing operations and establishes the largest tower network in the country. He expressed satisfaction with continuing to support the Digital India initiative through such significant acquisitions.

Agrawal 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.”

Munish Seth, Group Managing Director at Data Link, highlighted the excitement about entering a new growth phase with improved digital connectivity. He emphasized that the acquisition will diversify Altius’ revenue streams and enhance its ability to meet the evolving needs of the telecom market while creating long-term value for stakeholders.

Seth 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.”