Telecommunications company Vodafone New Zealand will sell its tower assets for NZ$1.7 billion ($1.5 million) to infrastructure investors Northleaf Capital and InfraRed Partners.
The deal would form a new company, TowerCo. Things reports that TowerCo would own 1,484 mobile towers, making it the largest operator in the country, covering 98% of New Zealand’s population.
“We have unlocked a significant portion of the value of our initial capital invested in Vodafone while retaining this investment and a 20% stake in TowerCo. InfraRed Capital Partners and Northleaf Capital are high caliber investors who share our vision of what the new TowerCo can deliver across New Zealand. The transaction is a win-win situation for Infratil shareholders,” said Infratil CEO Jason Boyes.
“This partnership will improve site choices for wireless operators in New Zealand while supporting a strong return on our capital invested in Vodafone NZ three years ago,” said the managing director of Brookfield Asset Management. Udhay Mathialagan.
Each of the new purchasers will hold a 40% stake in the new TowerCo.
According Daily IT Newsthe transaction is subject to the approval of the NZ Overseas Investment Office.
If the government agency gives the green light to the deal, TowerCo will enter into a 20-year service agreement with Vodafone NZ, providing access to existing and new towers. TowerCo will also commit to building at least 390 additional sites over the next 10 years to improve Vodafone’s coverage.
Infrared is a global investment firm, managing more than 220 infrastructure projects in 17 countries with US$12 billion ($17 billion) of equity under management in private and listed funds, according to its website.
It has offices in London, New York, Sydney and Seoul.
Northleaf Capital is a global private markets investment firm headquartered in Canada with offices in North America, London and Melbourne. It manages US$20 billion ($29 billion) in public and private infrastructure, pension, endowment, foundation and office commitments.
This first appeared in the CommsWire subscription newsletter on July 19, 2022.
SONICWALL CYBER THREAT REPORT 2022
The last year has seen a meteoric rise in ransomware incidents around the world.
Over the past 12 months, threat researchers at SonicWall Capture Labs have diligently tracked the meteoric rise in cyberattacks, as well as trends and activity across all threat vectors, including:
Zero-day attacks and more
These exclusive findings are now available through the SonicWall Cyber Threat Report 2022, which ensures SMBs, government agencies, enterprises and other organizations have the actionable threat intelligence needed to combat the growing wave of cybercrime.
Click the button below to get the report.
PROMOTE YOUR WEBINAR ON ITWIRE
It’s all about webinars.
Marketing budgets are now focused on webinars combined with lead generation.
If you want to promote a webinar, we recommend at least a 3-4 week campaign before your event.
The iTWire campaign will include numerous advertisements on our news site itwire.com and a major newsletter promotion https://itwire.com/itwire-update.html and promotional and editorial news. Plus a keynote speaker video interview on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in promotional messages on the iTWire homepage.
Now that we are coming out of Lockdown, iTWire will focus on supporting your webinars and campaigns and support through partial payments and extended terms, Webinar Business Booster pack and other support programs. We can also create your advertisements and written content and coordinate your video interview.
We look forward to discussing your campaign goals with you. Please click the button below.
MORE INFO HERE!