Data Infrastructure Trust Acquires American Tower Corporation’s Operations in India

Data Infrastructure Trust (DIT) has become India's largest mobile tower company by acquiring American Tower Corporation’s Indian operations, backed by Brookfield Asset Management and other investors. The acquisition includes 76,000 communications sites valued at Rs 18200 crore or USD 2.2 billion, bringing DIT's total telecom sites to 257,000 under its new brand Altius.

Data Infrastructure Trust on Thursday declared that it has overtaken Indus Towers to become India's leading mobile tower company after acquiring the operations of American Tower Corporation (ATC) in the country.

Supported by Brookfield Asset Management and investment affiliates like British Columbia Investment Management Corporation (BCI) and GIC, DIT secured the entirety of ATC India's 76,000 communications sites for an enterprise value of Rs 18200 crore, or approximately USD 2.2 billion.

"With this acquisition, the Brookfield-led consortium reinforces its commitment to connecting India with an expanded portfolio of 257,000 telecom sites," DIT announced in its statement. The expanded portfolio will operate under the new brand name Altius.

Previously, Bharti Group's Indus Towers reported a portfolio of 225,910 sites as of June 30, 2024. This marks Brookfield's third significant acquisition in the Indian telecom sector, following previous purchases of 6,300 indoor business solution sites in 2022 and about 175,000 towers from Reliance Industrial Investments and Holdings Limited in 2020.

Brookfield's assets under management in India now total approximately USD 29 billion, encompassing infrastructure, real estate, renewable power and transition, and private equity sectors.

(With inputs from agencies.)