Brookfield & DigitalBridge has confirmed the acquisition of a 51% stake in the Deutsche Telekom (DT) GD Towers business.

The transaction was valued at EUR17.5 billion (US$18.8 billion). This acquisition intends to create a team of unmatched capabilities to support GD Towers as it grows to meet the evolving network demands of enterprises and consumers across Europe.

With Deutsche Telekom keeping a 49% ownership position, Canadian investment management company Brookfield and US private equity firm DigitalBridge will acquire a majority interest in GD Towers. GD Towers has more than 40,000 mobile sites in Germany and Austria, and employs close to 800 people. In 2021, DT's tower unit generated pro forma revenues of EUR1.1 billion (US$1.2 billion), while its adjusted pro forma EBITDA AL amounted to EUR640 million (US$688 million).