TPG Telecom completes tower sale to OMERS

TPG Telecom Limited is pleased to announce that it has completed the sale of its passive mobile tower and rooftop infrastructure (Tower Assets) to OMERS Infrastructure Management Inc. (OMERS), as first announced on 9 May 2022, for an enterprise value of $950 million (the Transaction).

The Transaction has delivered net cash proceeds of approximately $890 million (being the enterprise value less total transaction costs), which the Company will use to repay existing bank debt.

As noted in the announcement on 9 May 2022, the Transaction includes a master services agreement with a 20-year term and an option for TPG Telecom to extend. ListCorp