US-based investment company DigitalBridge made an offer to take Japanese infrastructure company JTower private in a deal Bloomberg estimates is valued at JPY93 billion ($631.2 million).
DB Pyramid Holdings, a subsidiary of DigitalBridge Group, will purchase the common shares held by JTower’s founder and president Atsushi Tanaka, NTT and NTT Docomo, which will tender their combined 26 per cent stake, JTower said in a stock market filing.
The tower company noted the deal is aimed at strengthening the management base to establish an infrastructure sharing market in Japan.
In the filing, JTower stated it will maintain its business alliance with existing capital partners NTT, NTT Docomo and KDDI after the tender offer is completed. The current management, including Tanaka, will continue to lead the company.
A separate release highlighted together with NTT, JTower believes infrastructure sharing will continue to contribute to the growth of the telecommunications industry in the country.
Docomo in 2022 sold 6,002 towers to JTower for JPY106.2 billion, in a sell and leaseback deal. The previous year, NTT offloaded 71 towers to the company for an undisclosed sum.
The post DigitalBridge to acquire JTower appeared first on Mobile World Live.
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