On September 12, 2024, Brookfield Infrastructure Partners completed the tuck-in acquisition of 76,000 telecom tower sites in India. This strategic move positions Brookfield Infrastructure as the largest telecom tower operator in India and the second largest globally, with a total of over 250,000 tower sites.
The acquisition, which involved a total equity commitment of approximately $140 million, is highly complementary to Brookfield's existing operations. It is expected to increase and diversify tenancies from India's second and third largest mobile network operators, while also offering significant operating synergies.
The combined platform, rebranded as Altius, was acquired at a value-based entry point below 6x EBITDA. This investment is anticipated to generate a strong going-in Funds From Operations (FFO) yield, contributing positively to the company's financial performance.
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