ATC India is going to be sold, Canada’s Brookfield made a deal in it, know the details
[ad_1]
ATC India: Canada-based Brookfield is all set to acquire the Indian business of American Tower Corporation (ATC) in a mega deal worth US$ 2.5 billion. This also includes an enterprise value of US $ 2 billion on Etsy India and a ‘compensation fee’ to be imposed from October 1, 2023. Regulatory permission is required for this transaction. It is expected to be completed in the second half of 2024. Data Infrastructure Trust (DIT), an infrastructure investment trust sponsored by an affiliate of Brookfield Asset Management, has today entered into an agreement with ATC to acquire 100 per cent equity interests in the operations of American Tower in India, DIT said. Announced the signing of an agreement. Its enterprise value is Rs 16,500 crore (US$2 billion), subject to pre-closing conditions under the securities purchase agreement. Tower company ATC India has about 78,000 locations across the country. A press release issued by ATC said that at the time of closing, subject to certain pre-closing conditions, the total consideration would potentially be approximately Rs 21,000 crore or US$ 2.5 billion at current exchange rates.
According to information provided by the company, the total transaction includes an enterprise value of approximately US $ 2 billion on ATC India operations, as well as compensation charges from October 1, 2023 to the date of closing. DIT operates Brookfield’s telecom tower business in India through Summit Digital and Crest Digital. This will be Brookfield’s third acquisition in the Indian telecom sector. Brookfield owns about 1,75,000 towers which were acquired from Reliance Industrial Investments and Holdings Limited in 2020. ATC India will be included in the DIT, which will include the existing telecom assets.
Arpit Agarwal, Managing Director (Infrastructure Head India and West Asia) at Brookfield said, “We look forward to expanding our existing telecom towers segment in India which enables a wide range of solutions for our customers and partners. He said that through strategic acquisitions like ATC India, we are committed to empowering digital connectivity and transforming the landscape of telecom infrastructure across the region. In India, Brookfield has approximately US$25 billion of assets under management across infrastructure, real estate, renewable power and transition and private equity.
How one company acquires another company
For a company to acquire another company (merger and acquisition), the two companies first negotiate. The boards of directors of both companies agree to an agreement to plan the acquisition. In this, details of acquisition, time limit, valuation of property, stock currency etc. are adjusted. Once the plan is made and agreed upon, Naubat (Form 23C and Form 1 Naubat) is issued. This includes the process and details of the acquisition. After issuing Naubat, it is presented to the Supreme Court or the Naubat Approval Officer. After receiving the approval, implementation of the acquisition is started as per the plan. In this, one company acquires control of the property, stock, and assets of another company. Following the acquisition, the various process, production, finance, and management systems of both companies are integrated. The various divided structures are transformed into a consolidated and organized structure.
,with language input,
[ad_2]
Source link
