Spark $900m spin-off deal of TowerCo

13.7.22 Spark New Zealand has sold a 70% stake in its TowerCo business for $900m to the Ontario Teachers’ Pension Plan Board. Spark’s TowerCo business is a New Zealand towers business with approximately 1,263 sites. The transaction values the business at $1.175 billion, representing a FY23 pro-forma EBITDA multiple of 33.8x. Spark expects net cash […]