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Image: TPG Telecom

TPG Telecom announced Monday morning that it has struck a deal worth A $ 950 million to sell its passive assets in the tower of the Ontario Pension Fund’s infrastructure management branch to municipal employees, OMERS.

The company said that after eliminating transaction costs, it expects to bank 890 million Australian dollars, which will be used to repay debt. The deal covers 1237 sites, divided between 428 towers and 908 rooftop sites, as well as 252 under construction.

“This represents approximately 21% of the total footprint of TPG Telecom’s mobile network, the rest of which is already owned and operated by other tower companies,” TPG said.

Asset purchases include 120 sites TPG said it would decommission as part of its February agreement with Telstra for spectrum sharing and access to a regional network.

A 20-year agreement has been signed between TPG and OMERS, with TPG having an option to extend.

In the last year, other major carriers in Australia have sold stakes in their respective tower networks. Telstra launched a 49% stake in Amplitel to a consortium of Future Fund, Commonwealth Superannuation Corporation and Sunsuper for A $ 2.8 billion, while Optus Singtel’s mother sold a 70% stake in its tower business for A $ 1.9 billion. AustralianSuper dollars.

Elsewhere on Monday, Spirit said it had agreed to wholesale its fixed wireless assets for A $ 21 million to the Melbourne-based Maret Group. Spirit said it would maintain revenue and customer relationships, as well as core network assets, while Maret would charge him a service fee for the last mile.

Spirit said the pair will use Maret’s spectrum assets to create new products that Spirit will sell, and the proceeds from the sale will be used to increase its SMB and cyber weapons.

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https://www.zdnet.com/home-and-office/networking/tpg-telecom-sells-passive-tower-assets-for-au950-million/#ftag=RSSbaffb68

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