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Northleaf Capital Partners to Acquire 40% Share in Aotearoa Towers.

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MANews-(C)2009-2022

Funds managed by Canadian investment firm Northleaf Capital Partners has agreed to acquire a 40% interest in New Zealand-based mobile tower infrastructure business Aotearoa Towers Ltd. from Vodafone New Zealand Ltd., the company said.

Terms of the transaction were not disclosed.

The completion of this transaction will create New Zealand's largest independent tower company, with approximately 1,500 wholly-owned towers covering 98% of New Zealand's population.

The company will benefit from a long-term revenue contract with Vodafone NZ, with an initial term of 20 years and the option for two 10-year extensions.

In addition, Vodafone NZ has committed to building additional sites with the company to meet its expected coverage and capacity requirements over the next ten years.

Northleaf will acquire its interest in the company alongside...

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