Allianz to partner with American Tower
in Europe

Allianz and American Tower Corporation (NYSE: AMT) today announced that Allianz Capital Partners on behalf of Allianz insurance companies (“Allianz”) and the Allianz European Infrastructure Fund will acquire a 10 percent stake in ATC Europe, joining Caisse de dépôt et placement du Québec (CDPQ) in a long-term strategic partnership with American Tower.

The transaction is valued at over 530 million euros, reinforcing a more than 8.8 billion euros enterprise value for ATC Europe. American Tower will retain managerial and operational control, as well as day-to-day oversight of ATC Europe, while Allianz will obtain seats on ATC Europe’s Board of Directors, along with certain governance rights.

Tom Bartlett, American Tower’s President and Chief Executive Officer, stated, “We are extremely pleased to add Allianz as a partner in ATC Europe.  Allianz’s global infrastructure experience, extensive European investment history and investment philosophy are an excellent match for our value creation objectives in Europe, and we look forward to growing the business together while strengthening mobile broadband access in our served markets. With Allianz and CDPQ as committed, long-term partners in our newly expanded European business, we are more confident than ever that we are optimally positioned to generate sustainable growth and attractive returns for many years to come.”

Michael Pfennig, member of the management board and co-head of Infrastructure at Allianz Capital Partners, said, “Digital infrastructure has underscored in particular during the pandemic its importance as essential infrastructure to the public. We are excited to partner with American Tower and CDPQ in ATC Europe, one of Europe’s leading independent telecommunications tower operators. This long-term strategic partnership perfectly complements our existing digital infrastructure investments in fibre-to-the-home roll-outs and will contribute to further position ATC Europe in some of our core markets such as Germany, France and Spain while delivering stable cash yields to our investors.”  

The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions, including regulatory approvals.

About Allianz Capital Partners

Allianz Capital Partners is one of Allianz Group's asset managers for alternative equity investments and is part of Allianz Global Investors. With offices in Munich, London, Luxembourg, New York and Singapore, Allianz Capital Partners manages over 41 billion euros of alternative assets*. Our investment focus is on private equity, infrastructure and renewable energy. Our investment strategy is targeted to generate attractive, long-term and stable returns for our clients.

* Data as of March 31, 2021 

The Allianz Group is one of the world's leading insurers and asset managers with 126 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 716 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage nearly 1.8 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance  industry in the Dow Jones Sustainability Index. In 2021, over 155,000 employees achieved total revenues of 148.5 billion euros and an operating profit of 13.4 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

*Including non-consolidated entities with Allianz customers.
** As of June 30, 2022

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Pia Groeger
Allianz Capital Partners
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:

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