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Infratil Ltd is a New Zealand based company that invests in companies that are engaged in the energy, transport, and social infrastructure businesses. The company's business segments include Gurin Energy, Manawa Energy and Mint Renewables are renewable generation investments, Wellington International Airport is an airport investment, Qscan Group and RHCNZ Medical Imaging are diagnostic imaging investments and One NZ is a digital infrastructure investment. Geographically, it derives a majority of its revenue from New Zealand.

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Brookfield Asset Management Ltd (NYSE: BAM) has agreed to 

Brookfield Sells Its 49.95% One New Zealand Stake To Infratil For $1.1B

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Vodafone New Zealand Explores Sale Of Towers

INFRASTRUCTURE & UTIL NZ by Infrastructure & Utilities NZ Ltd.

Infratil Ltd

Infratil

Brookfield Asset Management Ltd&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>) has agreed to&nbsp;<a class="editor-rtfLink" href="https://infratil.com/news/infratil-announces-nz850-million-equity-raising/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">sell its 49.95% stake</a>&nbsp;in One New Zealand to&nbsp;Infratil Limited&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/IFUUF#OTC">IFUUF</a>) for NZ$1.8 billion ($1.1 billion)

This transaction will raise Infratil&#39;s ownership in One NZ from 49.95% to 99.90%. Infratil plans to fund the acquisition via an NZ$850 million equity raising, cash reserves, and debt facilities.

One NZ is a New Zealand digital services and connectivity company with 2.7 million connections and a population coverage of more than 98% of New Zealand.

The acquisition values One NZ at an enterprise value of NZ$5.9 billion, an implied EV/EBITDA multiple of 9.8x2 for Infratil&#39;s increased stake, and a normalized EV/EBITDA multiple of 9.3x3.

Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/05/32312808/brookfield-asset-management-missed-expectations-in-q1-despite-strong-fundraising" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Brookfield Asset Management Missed Expectations In Q1 Despite Strong Fundraising</a>

&quot;While we continue to see further long-term value in One NZ, we were attracted to realising a strong return now. We wish Infratil and the One NZ management team the best for what will be a bright future,&quot; commented Udhay Mathialagan, Brookfield Managing Director and Global CEO of Data Centres and outgoing chair of One NZ.

Price Action:&nbsp;BAM shares closed higher by 1.58% at $32.18 on Tuesday.

<ul>
	<li>Vodafone New Zealand Ltd&nbsp;sought prospective buyers for its wireless phone towers that provide coverage to about 98% of the country&rsquo;s population,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-03-04/vodafone-new-zealand-said-to-seek-1-billion-phone-towers-sale?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bloomberg reports</a>.</li>
	<li>Infratil Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/IFUUF#OTC">IFUUF</a>) and&nbsp;Brookfield Asset Management Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>) own Vodafone New Zealand.</li>
	<li>Vodafone looks to dispose of ~1,487 mobile cell sites likely to generate Ebitda of over NZ$50 million ($34 million) in the financial year starting April 1.</li>
	<li>The assets, viewed as New Zealand&rsquo;s most extensive tower portfolio, could be worth up to NZ$1.5 billion.&nbsp;</li>
	<li>The towers on sale have an average lease term of about 13 years. It will add 290 more sites by the year ending March 2027.</li>
	<li>Pension funds and asset managers flush with cash find digital infrastructure appealing because of the growth and assured long-term returns they offer.</li>
	<li>Price Action:&nbsp;BAM shares closed lower by 1.55% at $53.92 on Thursday.</li>
</ul>

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