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Vodafone New Zealand Sells Mobile Tower Assets for $1.1 Billion

  • InfraRed Capital, Northleaf Capital, Infratil to Own TowerCo
  • Deal expected to be completed by the fourth quarter of 2022
relates to Vodafone New Zealand Sells Mobile Tower Assets for $1.1 Billion
Photographer: Sandra Mu/Getty Images

Vodafone New Zealand is selling its mobile-phone tower assets to investment firms for NZ$1.7 billion ($1.1 billion). 

Together with shareholders Infratil and Brookfield Asset Management, Vodafone’s passive mobile tower assets will be bought by investors InfraRed Capital Partners and Northleaf Capital Partners, which will each have 40% stakes in the new TowerCo business. Infratil will reinvest to hold the remaining 20%, according to a statement Monday.