Global Infrastructure Partners acquires Tower Vision India

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Global Infrastructure Partners (GIP) has acquired Tower Vision India, a telecom infra firm from a group of investors led by Quadrangle Capital Partners (Quadrangle).

The cost of Tower Vision is approximately US$400 million. GIP plans to sign a definitive agreement with current shareholders to take control of Tower Vision. Tower Vision is 57% owned by Quadrangle, with the remaining stakes owned by other investors who will also sell their shares to GIP as part of the deal. GIP will partially finance the acquisition of Tower Vision by financing a leveraged buyout of approximately US$150-200 million. Another contender for the deal was private equity firm Actis.

Tower Vision is an independent tower management company specializing in the business of providing passive infrastructure and related services to the telecommunication industry in India. The company operates approximately 9,000 telecommunications towers.

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