Brookfield, Alecta pay €722 million for Telia Company towers

Brookfield, Alecta pay €722 million for Telia Company towers

Allison Kirkby.jpg

Telia Company has sold 49% of its Nordic tower business for €722 million to Brookfield Infrastructure Partners and Alecta.

The deal includes all of Telia Company's 4,700 towers across Finland and Norway, which generated total revenue of €88 million and EBITDA of €56 million in 2020. The transaction is expected to close before the end of 2021.

The sale comprises almost one fifth of the near 25,000 towers and rooftop sites owned by Telia Company and the sale is part of the firm's digital infrastructure strategy.

“Telia is a clear leader in digital infrastructure, owning the largest tower infrastructure footprint, in the Nordics and the Baltics," said Telia Company president and CEO Allison Kirkby (pictured).

"We are delighted to enter into a strategic partnership with Brookfield and Alecta, to both crystallize immediate value, and more importantly help Telia better develop its infrastructure base. Both Telia and Brookfield/Alecta have a long-term industrial view on the role of tower infrastructure as a foundation for continued digitalisation of the region,” added Kirkby.

Active across North and South America, Asia Pacific and Europe Brookfield Infrastructure Partners owns and operates a tower portfolio of 185,000 contracted sites across six markets, including India, France, the UK and New Zealand. In addition, Brookfield operates a portfolio of 20,000 km of fibre and over 50 data centres.

Alecta is one of the largest shareholders on the Stockholm Stock Exchange.

Telia Company divested Telia Carrier in October, with Polhem Infra, an infrastructure investor owned by Swedish pension funds, paying €900 million for the business.



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