Business
DigitalBridge to Acquire Telenet’s Mobile Telecommunications Tower Business
Creates First Independent TowerCo in Belgium and Positions DigitalBridge to Benefit from Telenet’s Increased Participation in 5G Deployment to Meet Growing
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[{"type":"text","content":"\nCreates First Independent TowerCo in Belgium and Positions DigitalBridge to Benefit from Telenet’s Increased Participation in 5G Deployment to Meet Growing Coverage Needs\n\nTransaction Underpinned by Secure, Long-Term Contracted Cash Flows, Attractive Market Dynamics, and Growth Driven by Success-Based Capex\n\n BOCA RATON, Fla.--(BUSINESS WIRE)--\nDigitalBridge Group, Inc. (NYSE:DBRG) today announced that an affiliate, DigitalBridge Investments, LLC (collectively “DigitalBridge”), has agreed to acquire the mobile telecommunications tower business (“TowerCo”) of Telenet Group Holding NV (Euronext Brussels: TNET, “Telenet”) in an all-cash transaction valued at €745 million, or $820 million1, on a cash-free and debt-free basis. The transaction is being funded via a combination of debt and equity financing, including a commitment from the DigitalBridge balance sheet of €470 million, or $517 million1. DigitalBridge intends to subsequently transfer its ownership of TowerCo to a fund affiliated with DigitalBridge investment management platform, in support of the firm’s continued development of new investment strategies.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220324006067/en/Marc C. Ganzi is President and Chief Executive Officer at DigitalBridge and has been an investor and operator in the digital infrastructure sector for more than 25 years. Mr. Ganzi has led DigitalBridge’s transformation to become a premier platform for digital infrastructure and real estate investment. (Photo: Business Wire)\nThe transaction with Telenet, a leading provider of entertainment and telecommunications services in Belgium, will provide DigitalBridge with ownership of 100% of Telenet’s passive infrastructure and tower assets, including TowerCo’s nationwide footprint of 3,322 sites in Belgium, including 2,158 owned sites and 1,164 third-party sites.\n\nThrough the acquisition, DigitalBridge will capitalize on the unique opportunity to create and invest in the first independent TowerCo in Belgium with an expansive footprint, a total tenancy ratio of 1.2x, and a tenancy ratio of 1.6x in towers. The transaction creates the foundation for DigitalBridge to benefit from Telenet’s increased participation in 5G deployment to meet growing coverage needs as underscored by robust market and mac...