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KKR acquires 49.99% Stake In SFR TowerCo from Patrick Drahi’s Altice France

The transaction will give SFR TowerCo an enterprise value of €3.6 billion

Patrick Drahi‘s Altice France has entered into an exclusivity agreement with global investment firm KKR, to acquire a stake of 49.99 percent in the to be formed tower company, SFR TowerCo.

The transaction will give SFR TowerCo an enterprise value of €3.6 billion. The deal is subject to regulatory approvals in France and is expected to close in Q4 2018.

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SFR TowerCo will comprise of 10,198 sites across France currently operated by SFR. KKR’s financial and operational support will help drive the continued growth and development of the company’s portfolio, strengthening its position as a leading telecom infrastructure provider in France.

Under the terms of the agreement, KKR and Altice France will partner to develop the largest independent TowerCo in France.

Last year, KKR acquired a stake in Telxius, a leading critical telecom infrastructure owner and service provider in Europe and the Americas.

Vincent Policard, Member at KKR in the European Infrastructure team, said: “KKR is proud to be the preferred partner for Altice and SFR based on our strong experience in telecom infrastructure, our shared outlook for the sector and our track record in structuring partnerships alongside corporates.”




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