Optus, a subsidiary of Singtel, will sell 70 per cent of its Optus towers business, Australia Tower Network (ATN), a wholly-owned subsidiary which operates Optus’ passive telecommunications tower infrastructure. ATN comprises 2,312 mobile network towers and rooftop sites.
Under the agreement, Optus would have access to the sites through a long-term lease agreement with ATN.
|Oct 2021||Contract Award|
|Oct 2021||Financial Close|
|Procuring Agency:||Bank of America|
|Oct 2021||Optus announced Singtel has entered into an agreement to sell a 70 per cent stake in its mobile towers business, Australia Tower Network (ATN), to AustralianSuper for $1.9 billion. The transaction values ATN at approximately $2.3 billion, representing an enterprise multiple of 38 times earnings. Under the terms of the transaction, Optus will have access to the sites through a long-term lease agreement with ATN.|