Tata-Quippo to bring in PE players for Aircel's tower business buyout

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Tata-Quippo to bring in PE players for Aircel's tower business buyout

December 15, 2009

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Tata-Quippo, the telecom tower venture of Tata Teleservices and the Srei Group, is planning to bring in two private equity (PE) players to finance the acquisition of Aircel's tower assets if it wins the bid. The tower company has reportedly finalised New York-based PE fund Apollo Management as one of the two partners.

The tower deal is expected to be worth $1.2-$1.5 billion. Of this amount, $700 million-$1.2 billion is expected to come from PE players. The PE firms are likely to hold about one-third stake in the proposed merged entity of Tata-Quippo and Aircel's tower business.