Telia Company has completed the divestment of 49 percent of its tower business in Sweden, to Brookfield and Alecta, as all regulatory approvals have been received.
On January 27, 2022, Telia announced the sale of 49 percent of its tower business in Sweden to Brookfield and Alecta at a price corresponding to an enterprise value (EV) for 100 percent of SEK 11,224 million on a cash and debt free basis. The valuation of the Swedish tower business equals 28.2x normalized EBITDA 2021.
Allison Kirkby, Telia Company President and CEO, says: “We are delivering on our strategy to both develop and crystalize the value of our digital infrastructure, and I am delighted that we have Brookfield and Alecta as our Tower partners in Norway, Finland and now in Sweden. Having created the Nordic region’s leading Tower company with an EV of EUR 2.6 billion, we aim to be an even stronger foundation to the continued digitalization of the Nordics.”
With the completion of the transaction of the minority stake in the Swedish tower business, and the previous completion of the sale of 49 percent of Telia’s Norwegian and Finnish tower business to Brookfield and Alecta, as announced on December 29, 2021, the tower assets are placed in Telia Towers AB which is 51 percent owned by Telia with the remaining 49 percent owned by Brookfield and Alecta.