DigitalBridge Group, Inc. (NYSE:DBRG) and Brookfield Infrastructure Partners L.P. (NYSE:BIP) agreed to acquire 51% of stake in GD Towers from Deutsche Telekom AG (XTRA:DTE) on July 13, 2022. Deutsche Telecom, which will retain a minority 49% ownership stake in GD Towers following this transaction. The transaction is expected to close in late 2022, subject to regulatory approvals and other customary closing conditions. The estimated cash proceeds from the transaction are expected to be €10.9 billion. The transaction is subject to approval by the regulatory authorities and is expected to be completed by the start of 2023. As on July 13, 2022, The target board approved the sale of a 51 % stake. The preliminary sale price is based on an enterprise value of EUR 17.5 billion.

DigitalBridge was advised by Perella Weinberg Partners, Evercore, and Barclays as financial advisors and Andrew Kenning, Sara Pickersgill, Ruediger Klueber, Christian Hilmes, Heike Weber, Jan Skuhravy, Hendrik Roehricht, Daniel Bolm, Andrew Kenning, Tim Mueller, Nicolaus Ascherfeld, Edward Moser, Thomas Masterman, Parya Badie, Udo Herbert Olgemoeller, Peter Wehner and Jan-Hendrick Bode of Allen & Overy and Morgan Lewis as legal advisors. Jens Liese, Tobias Frevert, Tobias Bosch, Julian von Lucius, Maurice Séché, Gregor, Jennifer Bryant, Till Steinvorth, Bärbel Sachs of Noerr Partnerschaftsgesellschaft mbB, and Gleiss Lutz acted as legal advisor to Deutsche Telekom AG (XTRA:DTE). JPMorgan Chase & Co. (NYSE:JPM) acted as financial advisor to Brookfield. Benedikt Hohaus of Poellath acted as legal advisor to Deutsche Telekom AG. Vinson & Elkins LLP acted as legal advisor to DigitalBridge Group, Inc. Clemens Grossmayer, Dieter Zandler of CMS acted as legal advisor to Deutsche Telekom. Bury, Tomas, Garajova, Nina, Verner, Prokop of Allen & Overy Prague acted as legal advisor to Deutsche Telekom AG in the deal. Morgan Stanley (NYSE:MS) acted as financial advisor to Brookfield Infrastructure Partners L.P. (NYSE:BIP).

DigitalBridge Group, Inc. (NYSE:DBRG) and Brookfield Infrastructure Partners L.P. (NYSE:BIP) completed the acquisition of 51% of stake in GD Towers from Deutsche Telekom AG (XTRA:DTE) on February 1, 2023. The Cash proceeds of more than €10 billion will help DTE to reduce liabilities.