Data Infrastructure Trust (DIT) announced on Thursday that it had acquired American Tower Corporation’s operations to become India’s largest mobile tower company, surpassing Indus Towers.

Brookfield Asset Management and its investors’ affiliates, including British Columbia Investment Management Corporation (BCI) and GIC, support Data Infrastructure Trust.

The company purchased 100% of American Tower’s operations in India, including approximately 76,000 communications sites, for an enterprise value of Rs 18,200 crore or around USD 2.2 billion.

With this acquisition, the Brookfield-led consortium reaffirms its dedication to connecting India through an expanded portfolio of 2,57,000 telecom sites.

Data Infrastructure Trust (DIT) is an investment trust designed to invest in infrastructure projects under the SEBI InvIT (infrastructure investment trust) Regulations. Brookfield Asset Management sponsors the trust, which Data Link, an affiliate of Brookfield, manages.

DIT owns 2,57,000 sites under the Altius brand, making it the world’s largest telecom infrastructure platform outside China. Indus Towers, owned by the Bharti Group, had a portfolio of 2,25,910 as of June 30, 2024. ATC India marks Brookfield’s third acquisition in the Indian telecommunications sector.

In 2022, Brookfield acquired a portfolio of 6,300 indoor business solution sites and small cell sites. Brookfield also holds a portfolio of approximately 175,000 towers acquired in the year 2020 from Reliance Industrial Investments and Holdings Limited.

In India, Brookfield manages around USD 29 billion in assets spanning infrastructure, real estate, renewable power, transition, and private equity.

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