Canadian private equity giant Brookfield on Octobe 14, 2016 agreed to buy a majority stake 91. 51% in An Ambani-controlled Reliance Communications' (RCom mobile phone tower unit for Rs 11,000 crore ($1.7 billion)
This will be the largest acquisition in the country! mobile phone tower segment. Last year, American Town: had bought a 51% stake•in Viom Networks for Rs 7,63! crore.
RCom, which has signed a non-binding' term shee with Brookfield, will hold the remaining 49% in the town business, which is currently housed under Reliance Infratel. RCom owns 96% of Reliance Infratel and the rest held by institutional investors -Quantum, NSR Partners Galleon, HSBC, Drawbridge Towers and Investmen Partners. All these investors, which had put in $287 million in 2007, will exit Reliance Infratel.
A non-binding term sheet means a contract tha doesn't hold either party to fulfil the terms listed in it Brookfield, the world's second biggest fund witl $250-billion.assets under management, entered the scen after RCom's deal with TPG-Tillman for the tower busines collapsed early this year.
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This will be the largest acquisition in the country! mobile phone tower segment. Last year, American Town: had bought a 51% stake•in Viom Networks for Rs 7,63! crore.
RCom, which has signed a non-binding' term shee with Brookfield, will hold the remaining 49% in the town business, which is currently housed under Reliance Infratel. RCom owns 96% of Reliance Infratel and the rest held by institutional investors -Quantum, NSR Partners Galleon, HSBC, Drawbridge Towers and Investmen Partners. All these investors, which had put in $287 million in 2007, will exit Reliance Infratel.
A non-binding term sheet means a contract tha doesn't hold either party to fulfil the terms listed in it Brookfield, the world's second biggest fund witl $250-billion.assets under management, entered the scen after RCom's deal with TPG-Tillman for the tower busines collapsed early this year.
Subscribe now free online mock test for afcat exam
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