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American Tower lands CDPQ funding for European towers 06 MAY 2021 American Tower said global investment group Caisse de dépôt et placement du Québec (CDPQ) will invest €1.6 billion in exchange for a 30 per cent stake in its ATC Europe unit. The US tower owner is set to become Europe’s second largest independent tower owner (after Cellnex) with its €7.7 billion purchase of Telxius Telecom, announced in January. The acquisition will give the company almost 24,000 towers in Germany and Spain, plus about 7,000 in Latin America. American Tower already owns towers in France. The company’s appetite for new towers isn’t satiated yet. In announcing the deal with CDPQ, American Tower CEO Tom Bartlett said the alliance “creates a solid, adaptable framework through which future expansion opportunities can be evaluated and financed”. ....
By IPE staff2021-05-05T16:28:00+01:00 Caisse de dépôt et placement du Québec (CDPQ) is buying a 30% stake in American Tower’s €8.8bn European business. CDPQ is investing over €1.6bn for its stake in ATC Europe as part of a newly created partnership with American Tower, a global real estate investment trust listed on the New York stock exchange. American Tower said it will retain managerial and operational control, as well as day-to-day oversight of ATC Europe, while CDPQ will obtain seats on ATC Europe’s board of directors, along with certain governance rights. The companies said the partnership will position American Tower and CDPQ to jointly benefit from “sustainable, long-term secular wireless growth trends in select European markets as 5G deployments and demand for communications infrastructure accelerate”. ....