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.