Allianz acquires 10% stake in American Tower for EUR530m

17 Jun 2021

Allianz Capital Partners, on behalf of Allianz insurance companies and the Allianz European Infrastructure Fund, has confirmed plans to acquire a 10% stake in ATC Europe from American Tower Corporation (ATC) for EUR530 million (USD640.9 million). The transaction reinforces a more than EUR8.8 billion enterprise value for ATC Europe, and sees Allianz join Caisse de depot et placement du Quebec (CDPQ) in a long-term strategic partnership with ATC, after the latter agreed to acquire a 30% stake for EUR1.6 billion earlier this year.

Going forward, 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.

United States, American Tower Corporation (ATC)