DigitalBridge Group, Inc. and Brookfield Infrastructure Partners L.P. completed the acquisition of 51% of stake in GD Towers from Deutsche Telekom AG.
February 31, 2023
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DigitalBridge Group, Inc. (NYSE:DBRG) and Brookfield Infrastructure Partners L.P. (NYSE:BIP) agreed to acquire 51% of stake in GD Towers from Deutsche Telekom AG (XTRA:DTE) on July 13, 2022. Deutsche Telecom, which will retain a minority 49% ownership stake in GD Towers following this transaction. The transaction is expected to close in late 2022, subject to regulatory approvals and other customary closing conditions. The estimated cash proceeds from the transaction are expected to be 10.9 billion. The transaction is subject to approval by the regulatory authorities and is expected to be completed by the start of 2023. As on July 13, 2022, The target board approved the sale of a 51 % stake. The preliminary sale price is based on an enterprise value of EUR 17.5 billion.
DigitalBridge Group, Inc. (NYSE:DBRG) and Brookfield Infrastructure Partners L.P. (NYSE:BIP) completed the acquisition of 51% of stake in GD Towers from Deutsche Telekom AG (XTRA:DTE) on February 1, 2023. The Cash proceeds of more than 10 billion will help DTE to reduce liabilities.
DigitalBridge Group, Inc. is a global digital infrastructure investment manager, deploying and managing capital across the digital ecosystem, including data centers, cell towers, fiber networks, small cells, and edge infrastructure. It operates through Investment Management segment. The Investment Management segment represents its global investment management platform, deploying and managing capital on behalf of a diverse base of global institutional investors. Its investment management platform is composed of number of long durations, private investment funds designed to provide institutional investors access to investments across different segments of the digital infrastructure ecosystem. In addition to its flagship value-add digital infrastructure equity offerings, its investment offerings also include core equity, credit, and liquid securities. Its investment management platform is anchored by its value-add funds within the DigitalBridge Partners infrastructure equity offerings.