TDF closes masts sale
April 2, 2015
By Chris Forrester
TeleDiffusion de France (TDF), which operates the nation’s transmission media and broadcasting services, has completed the sale of its assets to a consortium comprising Brookfield Infrastructure, PSP Investments, APG Asset Mgt and Arcus Infrastructure. Sale price is “approximately €3.6 billion” says a company statement. Included in the sale are about 6,690 multi-purpose towers and 5,000 kms of fibre backbone.
The deal was originally announced in November 2014. TDF CEO Olivier Huart said, “TDF’s new shareholders are long-term investors who have deep experience in owning and operating infrastructure assets. The company is now well positioned for future growth, with a stronger balance sheet, a tradition of technological innovation and a strategy that will see TDF take advantage of new development opportunities and continue to be a trusted partner to clients.”
The business has been up for sale for some time, and first announced its plans back in early 2013, but saying in August 2013 that it was disappointed by the bids that had emerged. It was reported at the time that it was seeking bids of some €4 billion for the company.
The new owners get all of TDF’s business divisions (except those operating in Germany).