DigitalBridge to Acquire Telenet’s Tower Business for $820m

DigitalBridge Group a short while ago declared that an affiliate, DigitalBridge Investments has agreed to obtain the cell telecommunications tower business (TowerCo) of Telenet Group for $820million.

The transaction is getting funded by using a combination of personal debt and fairness funding, which includes a determination from the DigitalBridge harmony sheet of €470 million, or $517 million1. DigitalBridge intends to subsequently transfer its possession of TowerCo to a fund affiliated with DigitalBridge expense administration system, in support of the firm’s continued progress of new financial commitment strategies.

The transaction with Telenet, a foremost company of amusement and telecommunications providers in Belgium, will give DigitalBridge with possession of 100% of Telenet’s passive infrastructure and tower belongings, like TowerCo’s nationwide footprint of 3,322 web-sites in Belgium, together with 2,158 owned web pages and 1,164 third-party sites.

By the acquisition, DigitalBridge will capitalize on the exclusive chance to make and make investments in the very first independent TowerCo in Belgium with an expansive footprint, a full tenancy ratio of 1.2x, and a tenancy ratio of 1.6x in towers. The transaction generates the foundation for DigitalBridge to gain from Telenet’s increased participation in 5G deployment to meet increasing protection needs as underscored by strong market and macroeconomic traits in the telecom.

Less than the terms of the agreement, DigitalBridge will enter into a extended-expression Master Lease Agreement with Telenet, which incorporates an initial period of 15 years and two renewals of 10 several years just about every. The arrangement also features a make-to-fit motivation to deploy a minimal of 475 further new web-sites.