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Canadian Pension Fund CDPQ will Buy 50% Stake in ATC's India Unit

Published on March 20, 2023
Current context: Canadian pension fund (CDPQ) is collaboration with American Tower Corp (ATC) to buy a 50% stake in its Indian unit.
  • The valuation of the India arm is pegged at $1.5-2 billion,
  • CDPQ had earlier unsuccessfully pursued an investment in Indus Towers, India’s largest mobile tower installation company.
  • Boston-bird ATC has offered to sell a 50% stake in its wholly owned Indian subsidiary, ATC Telecom Infrastructure Pvt Ltd (ATC TIPL), potential equal partner as it has been looking to cut its exposure in the country amid rising business challenges. 
  • ATC has been working with its advisor for the last few months for a deal that had seen interest from infrastructure-focused funds such as Macquarie and Brookfield among others.
  • Depending on the final valuation, the value of the 50% stake would be around $750 million to $1 billion
  • ATC noted that Vi represented roughly 3.2% of its total revenue ($10.71 billion) for the year ended December 31, 2022. The US tower company has already taken a $411.6 million (Rs 3,400 crore) impairment charge due to Vi’s partial payments and warned of more such potential charges in future amid continuing payment concerns at its largest customer in India. The company had 76,826 towers in its India portfolio as of end-December 2022.


Q.1 Canadian pension fund (CDPQ) is collaboration with American Tower Corp (ATC) to buy a ___% stake in its Indian unit.
a. 50
b. 40
c. 30
d. 53

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