American Tower Corp sells Indian unit

American Tower Corporation (ATC) signed a deal to sell its entire Indian unit to Data Infrastructure Trust (DIT), an affiliate of Brookfield Asset Management for INR165 billion (US$2 billion).

In a statement, DIT detailed the deal is still subject to pre-closing terms and regulatory approvals, but expects the deal to close in H2 2024. 

ATC India has a portfolio of around 78,000 sites across India and will be Brookfield’s third acquisition in the country’s telecoms market. The company bought a portfolio of 5,000 indoor business solution sites and small cell sites, from an unnamed company. It also acquired 175,000 towers from Reliance Industrial Investments and Holdings in 2020.

ATC India will be folded into DIT and expected to “diversify DIT’s revenues and increase touch points with all mobile network operators in India.

Brookfield India and Middle East head of infrastructure, managing director, Arpit Agrawal said: “We look forward to expanding and enhancing our existing telecom tower portfolio in India, which enables a broader array of solutions for our customers and partners.

"Through strategic acquisitions like ATC India, we remain deeply committed to empowering digital connectivity and transforming the telecom infrastructure landscape across the region.”