Infratil has announced that Vodafone New Zealand completed the sale of its passive mobile tower assets to InfraRed Capital Partners and Northleaf Capital Partners.

On 18 July 2022, Infratil and Vodafone NZ’s other owner, Canadian investment firm Brookfield Asset Management, announced the sale of the operator’s passive tower infrastructure business. Through the acquisition, InfraRed Capital Partners and Northleaf Capital Partners will each own a 40% stake in the new tower company TowerCo, with Infratil investing 20% in the latter.

The investment in TowerCo ended after meeting the terms of the deal. To support TowerCo's business, Infratil is looking forward to working with InfraRed Capital Partners and Northleaf Capital.