Allianz Buys Stake in American Towers Corp European Business

Posted on 06/17/2021


Allianz Capital Partners, on behalf of Allianz insurance companies and the Allianz European Infrastructure Fund, will acquire a 10% stake in ATC Europe, joining Caisse de dépôt et placement du Québec (CDPQ) in a long-term strategic partnership with American Tower Corporation. The transaction is valued at over €530 million, reinforcing a more than €8.8 billion enterprise value for ATC Europe. American Tower will retain managerial and operational control, as well as day-to-day oversight of ATC Europe, while Allianz will obtain seats on ATC Europe’s Board of Directors, along with certain governance rights.

Advisors
BofA Securities, Inc. and CDX Advisors are serving as financial advisors to American Tower. The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions, including regulatory approvals.

Keywords: Caisse de depot et placement du Québec, Allianz SE.

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