Vodafone NZ has sold off its tower infrastructure business. The deal is reportedly worth NZ $1.7bn ($1bn). One of the owners of Vodafone NZ- Infratil said the conditions for the transaction has been met and the sale was completed in the first week of November. Co-investors in Vodafone NZ- Infratil and Brookfield Asset Management reached an agreement with Northleaf Capital Partners and InfraRed Capital Partners that will see the two companies hold 40% stake each in the new TowerCo. Infratil will own the remaining 20%.
According to Telco Titans, TowerCo’s acquisition will include 1,484 mobile assets which is about 98% of New Zealand’s population. In addition, the deal includes a Master Services Agreement with Vodafone NZ that will last for 20 years. The term can also be extended.
