Announced
Financials
Sources
Tags
Majority
New Zealand
telecommunications towers
Infrastructure
Acquisition
Cross Border
Telecommunications infrastructure
Private
Private Equity
Single Bidder
Friendly
Pending
Synopsis
Investment companies Northleaf Capital Partners and InfraRed Capital Partners to acquire an 80% stake in the passive mobile tower assets of Brookfield and Infratil-backed Vodafone New Zealand, a New Zealand telecommunications company, for $1.1bn. "We are delighted with this outcome, which highlights again why Vodafone is an excellent Infratil investment. We have unlocked a significant portion of the value of our original equity invested in Vodafone, whilst retaining that investment and a 20% stake in TowerCo. InfraRed Capital Partners and Northleaf Capital are high-calibre investors who share our vision for what the new TowerCo can deliver across New Zealand. The transaction is a win-win for Infratil shareholders," Jason Boyes, Infratil CEO.
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