S&R Associates represented Data Infrastructure Trust, an infrastructure investment trust sponsored by an affiliate of Brookfield Asset Management, in obtaining the approval of the Competition Commission of India for its proposed acquisition of 100% of the share capital of ATC Telecom Infrastructure (American Tower Corporation’s Indian tower business entity), a leading telecommunications infrastructure service provider in India, for an enterprise value of INR 165 billion (approximately USD 2 billion).
The proposed combination envisages the acquisition proposed acquisition of 100% of the share capital of ATC Telecom Infrastructure Private Limited (ATC India) by Data Infrastructure Trust (DIT) and certain inter-connected transactions. DIT is an infrastructure investment trust registered under the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014. DIT, through its special purpose vehicles, is engaged in the business of provision of passive telecom infrastructure services in India. ATC India is an indirect subsidiary of American Tower International, Inc. It is engaged in the business of provision of passive telecom infrastructure services in India.
