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The investment manager is teaming up with Digital Bridge to raise up to $3bn for the vehicle.
The London listing is set to value the company – which estimates 78% of its sites are ready for more leases – at around £2bn, including debt.
Alphabet’s Sidewalk Labs wants to use technological innovation to create a fully digitised smart city in Toronto, while innovating the financing structure for infrastructure assets.
The Canadian pension and Singapore sovereign wealth fund GIC are making an $800m bet on the property type with newly-formed Mount Elbert Capital Partners.
The new offer, alongside three Danish pension funds, has been approved days after a first attempt was deemed ‘not in the best interest’ of shareholders.
The telecoms group dismisses offer as ‘not in the best interest’ of shareholders, but the consortium argues its proposal ‘represents excellent value’.
The new financing package almost trebles the previous agreement ahead of a €1.5bn investment plan.
Kelling Group, which owns and leases equipment for rail, road and telecom maintenance, ‘benefits from capital expenditure across all critical infrastructure sectors’.
The Macquarie fund buys Warburg Pincus’s 72% stake in Inea, which owns the largest regional fibre network in the country.
More than 70 percent of the deals made by the firm’s $4bn fund III have now been invested in the telecoms and broadband sector.

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