Canada's Brookfield buys 50 pct of TDF's French unit

Thu Nov 6, 2014 7:57am EST
 
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LONDON Nov 6 (Reuters) - Canada's Brookfield Infrastructure is to buy a 50 percent stake in the French unit of masts group TDF for 1.78 billion euros ($2.2 billion) alongside several partners, the company said on Thursday, valuing the unit at 3.5 billion euros.

The other 50 percent of TDF's French unit will be acquired by other transaction partners, the company said in a statement. The transaction is subject to completion of customary labour consultation under French labour law and is expected to be completed in the first quarter of 2015.

Reuters reported earlier in the week that a deal had been agreed to sell the whole of TDF's French unit, owned by private equity firms TPG, Ardian, Charterhouse, and French state bank Bpifrance, to a Canadian consortium for 3.5 billion euros.

($1 = 0.7992 Euros) (Reporting By Freya Berry; editing by Sophie Sassard)