Spark New Zealand has entered into an agreement to sell 70 per cent of its TowerCo business to the Ontario Teachers’ Pension Plan Board for NZ$900 million (AU$817 million).
The TowerCo business consists of approximately 1,263 passive mobile tower asset sites.
The sale also includes a 15-year agreement with rights of renewal between Spark New Zealand and TowerCo to secure access to existing and new towers, including a commitment to build 670 sites over 10 years.
Key Dates
| Jul 2022 | Project Announcement |
| 2022 | Expected Financial Close |
Procurement
| Procuring Agency: | Spark New Zealand |
| Successful Tenderer: | Ontario Teachers’ Pension Plan Board |
PROJECT HISTORY
| Jul 2022 | Spark New Zealand announced it entered into an agreement to sell 70 per cent of its TowerCo business to the Ontario Teachers’ Pension Plan Board for NZ$900 million (AU$817 million). |
Estimated Total Cost
(2022)
Sector
Telecom
Procurement approach
Brownfield transaction |
Location
New Zealand |
Resources
