Caisse de dépôt et placement du Québec’s Investment In ATC Europe

Allen & Overy advised American Tower Corporation on the deal.

Caisse de dépôt et placement du Québec (CDPQ) invested in ATC Europe, American Tower’s European platform, as part of a new long term strategic partnership which will see CDPQ take a 30% stake in ATC Europe. The transaction is valued at over EUR1.6 billion and is expected to close in the third quarter of 2021, subject to customary closing conditions, including regulatory approvals.

American Tower is a leading independent owner, operator and developer of multitenant communications real estate with a global portfolio of approximately 187,000 communications sites. The partnership allows both parties to access growth trends in select European markets as 5G deployments and demand for communications infrastructure accelerate, and will see American Tower retain operational control and day-to-day oversight of ATC Europe, while CDPQ will have representation on ATC Europe’s Board of Directors.

The A&O team was led by partner Sara Pickersgill (Picture) supported by senior associates Emma Shelston and Hannah Brown. Antitrust advice was provided by partner Dominic Long and senior associate David Weaver. Tax advice was provided by partner Vimal Tilakapala and counsel Gareth Banfield.

 

Involved fees earner: Gareth Banfield – Allen & Overy; Dominic Long – Allen & Overy; Sara Pickersgill – Allen & Overy; Emma Shelston – Allen & Overy; Vimal Tilakapala – Allen & Overy; David Weaver – Allen & Overy; Hannah Brown – Herbert Smith Freehills;

Law Firms: Allen & Overy; Herbert Smith Freehills;

Clients: American Tower;

Author: Federica Tiefenthaler