American Tower sells India operations to Brookfield for $2.5 billion By Reuters

© Reuters. A telecommunications tower managed by American Tower is seen in Golden, Colorado on February 25, 2014. REUTERS/Rick Wilking/File Photo

(Reuters) – Telecommunications tower operator American Tower (NYSE:) said on Thursday it would sell its India business to Canada’s Brookfield Asset Management (TSX:) for $2.5 billion.

The transaction will be executed by Brookfield’s India partner Data Infrastructure Trust and is expected to close in the second half of 2024.

The deal values ​​ATC’s Indian operations at approximately $2 billion and includes fees worth $500 million.

The ATC deal is asset manager Brookfield’s third U.S. telecom acquisition in the past four years.

“The acquired sites are expected to diversify DIT’s revenues and increase its touchpoints with all mobile network operators in India,” Brookfield said in a statement.