KKR and GIP to acquire a 10% stake in Vantage Towers from Vodafone for €1.3bn.

KKR, a global investment firm, and GIP, an infrastructure investment fund, agreed to acquire a 10% stake in Vantage Towers, a towers infrastructure company, from Vodafone, a British multinational telecommunications conglomerate, for €1.3bn. Vodafone said that proceeds from the sale would be used for cutting its debt levels and bringing down its net debt-to-adjusted earnings before interest, taxes, depreciation and amortisation after leases to the lower half of its target range.