Brookfield Infrastructure to acquire telecom towers in India from Reliance Industries

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Brookfield Infrastructure Partners, alongside its institutional partners, has announced that it has entered into binding agreements to acquire a 100% stake in a telecom tower company in India from Reliance Industrial Investments and Holdings Limited (RIIHL), a wholly-owned subsidiary of Reliance Industries Limited (RIL). The total equity requirement is US$3.7 billion, of which Brookfield Infrastructure will invest approximately US$ 375 million, with the balance being funded by its institutional partners.

Brookfield Infrastructure is acquiring a portfolio of approximately 130,000 communication towers that forms the infrastructure backbone of Reliance Jio’s (Jio) telecom business. These are recently constructed assets that are strategically located for pan-India 4G coverage. These towers are well-positioned from a competitive perspective as they are largely connected by fiber backhaul, which provides a unique platform to capitalize on the rollout of 5G and future technologies. Jio is an anchor tenant of the tower portfolio under a 30-year Master Services Agreement, providing a secure source of revenues for the tower company.

Share this update