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Telia Company completes the sale of a minority stake in its Norwegian and Finnish tower business to Brookfield and Alecta

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  • Brookfield, investing through its core-infrastructure fund, together with Alecta acquired 49 percent of Telia’s tower businesses in Finland and Norway
  • Transaction is in line with Telia’s strategy which includes partnering to strengthen the company’s digital infrastructure, while crystalizing asset value
  • The transaction price corresponds to an enterprise value of EUR 1,524 million for 100 percent of the shares on a cash and debt free basis as of December 31, 2020
  • The total cash proceeds paid to Telia on closing for the 49 percent equity stake equals EUR 767 million, which will enable further deleveraging

Telia Company has today completed the divestment of 49 percent of its tower business in Finland and Norway, to Brookfield and Alecta, as all regulatory approvals have been received.

On June 30, 2021, Telia announced the sale of 49 percent of its tower business in Finland and Norway to Brookfield and Alecta, at a price corresponding to an enterprise value for 100 percent of the shares of EUR 1,524 million on a cash and debt free basis. The price represents a FY 2020 EV/EBITDA multiple of 27x.

Allison Kirkby, Telia Company President & CEO, says: “The transaction clearly demonstrates the immediate value of, and our leadership in, digital infrastructure. Now we enter into a strategic partnership with Brookfield and Alecta to continue developing our digital infrastructure. Telia, Brookfield and Alecta have a long-term, industrial view on the role of tower infrastructure as a foundation for continued digitalization of the Nordic and Baltic regions.”

For more information, please contact our press office +46 771 77 58 30, visit our Newsroom or follow us on Twitter @Teliacompany.

   
  
We are Telia Company. Our 20,800 talented colleagues serve millions of customers every day in one of the world’s most connected regions. With a strong connectivity base, we’re the hub in the digital ecosystem, empowering people, companies and societies to stay in touch with everything that matters 24/7/365 - on their terms. Read more at www.teliacompany.com

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