The transaction follows several mobile phone tower transactions in Australia as infrastructure investors look to the telecommunications sector in their search for suitable assets.
November 07, 2022 at 04:52 PM
2 minute read
Correspondent, Sydney
New Zealand law firm Bell Gully is advising Vodafone New Zealand on the $1 billion sale of its mobile phone towers to a consortium of investors, represented by Australia’s Allens and New Zealand firm Chapman Tripp.
A consortium comprising Northleaf Capital Partners and InfraRed Capital Partners is paying NZ$1.7 billion ($1 billion) for an 80% stake in the business TowerCo. TowerCo was created ahead of the transaction and holds 1,484 mobile phone towers.
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