GIP, Vodafone, KKR Join To Invest In Vantage Towers

(RTTNews) - A consortium of funds led by Global Infrastructure Partners and KKR entered into a strategic co-control partnership with Vodafone GmbH for Vodafone's approximately 81.7% stake in Vantage Towers AG, a telecoms tower company in Europe. Vodafone will transfer its stake in Vantage Towers to a holding company, Oak BidCo, which will be indirectly co-controlled by Vodafone and the Consortium. The Consortium will obtain a shareholding of up to 50%. Also, Oak BidCo and Vantage Towers have entered into a business combination agreement in which Vantage Towers undertook to support the takeover offer

The Consortium and Vodafone will launch a voluntary public takeover offer to the shareholders of Vantage Towers through Oak BidCo. Vantage Towers' shareholders will be offered 32.0 euros per share in cash. .

Vantage Towers is a tower company in Europe with around 83,000 sites in ten countries. In 2021, Vantage Towers signed an agreement with 1&1 Mobilfunk GmbH to support the company in the rapid roll-out of its 5G network.