Vodafone NZ sells Aotearoa Towers for $1.7b to Infratil, InfraRed and Northleaf

Vodafone has sold its 1,484 passive tower assets. (Image: Vodafone)

Mon, 18 Jul 2022

Vodafone NZ will sell its Aotearoa Towers unit for $1.7 billion to a consortium of investment fund managers and the carrier's existing shareholder, Infratil. Global investment firms InfraRed Capital Partners and Northleaf Capital Partners will each buy 40% of the entity, which owns 1,484 passive mobile towers, while Infratil will reinvest its funds to take a 20% stake.The transaction values Aoteraoa Towers at 33.8 times earnings before interest, taxes, depreciation and amortisation (Ebitda), the same multiple as Spark’s own Towe...

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