DigitalBridge Group Inc - Ordinary Shares - Class A

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Business Deals, Strategic Combinations, Divestitures / Spin-offs

Telenet Sells Its Mobile Telecommunications Tower Business To DigitalBridge For EUR 745 Million

Published: 03/25/2022 06:41 GMT
DigitalBridge Group Inc - Ordinary Shares - Class A (DBRG) - Telenet Sells Its Mobile Telecommunications Tower Business to Digitalbridge for a Total Consideration of €745 Million.
Digitalbridge Will Acquire Towerco for a Total Consideration of EUR 745 Million on a Cash-free and Debt-free Basis, Fully Payable in Cash.
Transaction Values Telenet's Tower Business at 25.1x Ev/ebitdaal 2021.
Transaction Consists of an Attractive High-quality Portfolio of 3,322 Sites Across Belgium, Including 2,158 Owned Sites, of Which Nearly 38% Are Towers, and 1,164 Third-party Sites.
Will Enter Into a Long-term Master Lease Agreement ("mla") With Digitalbridge, Which Includes an Initial Period of 15 Years and Two Renewals of 10 Years Each.
Was Advised by A&o, Goldman Sachs International, Deloitte and Pmp.
Digitalbridge Was Advised by Latham & Watkins, Pwc and Ey Parthenon.
Transaction is Expected to Close in Q2 of 2022 and Does Not Require Any Further Regulatory Approvals.