DigitalBridge to Acquire Majority Stake in GD Towers

DigitalBridge Group, Inc. has announced that funds affiliated with its investment management arm (collectively, “DigitalBridge”) together with Brookfield Infrastructure and its institutional partners (collectively, “Brookfield”) have reached an agreement to acquire a 51% ownership stake in GD Towers.

The transaction values GD Towers, the mobile telecommunications tower business of Deutsche Telekom AG, at €17.5 billion, or $17.5 billion1, on a consolidated basis, including the assumption of net debt.

GD Towers is Germany’s largest tower company, owning and operating over 33,000 towers and communication sites in Germany and over 7,000 towers and communication sites in Austria. GD Towers is led by an independent management team with decades of European tower company experience and a track record of delivering consistent growth and stable cash flows. GD Towers’ high-quality portfolio is supported by an anchor tenancy agreement with Deutsche Telecom, which will retain a minority 49% ownership stake in GD Towers following this transaction.

“The partnership being formed today is about building the next generation digital infrastructure champion of Europe,” said Marc Ganzi, CEO of DigitalBridge. “The combination of Deutsche Telekom’s leading mobile network and market position, alongside one of the largest real asset managers in the world in Brookfield, combined with the digital infrastructure domain expertise of DigitalBridge, creates a team of unmatched capabilities to support GD Towers as it grows to meet the evolving network demands of enterprises and consumers across Europe.”

The transaction is expected to close in late 2022, subject to regulatory approvals and other customary closing conditions.

DigitalBridge was advised by Perella Weinberg Partners, Evercore, and Barclays as financial advisors and Allen & Overy and Morgan Lewis as legal advisors.

DigitalBridge is a leading global digital infrastructure investment firm. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $47 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders. Headquartered in Boca Raton, DigitalBridge has key offices in New York, Los Angeles, London, and Singapore.