Canadian pension fund investor OMERS is in talks to acquire independent telecommunications towers developer and investor Stilmark, in a move that would bolster its position as Australia’s third-biggest towers owner in waiting.
Street Talk understands OMERS is mulling a deal to combine Stilmark’s portfolio and management team with TPG Telecom’s towers business, and instantly create a big new player in the Australian market.
Acquiring Stilmark would add another 70-odd towers and a big development pipeline. More importantly, OMERS would get an experienced management team to run the combined towers business. Stilmark is understood to have about 30 staff, including a big executive team. Stilmark’s understood to have a US-based boutique in its corner. The adviser has been approaching potential buyers in recent months, sources said, on behalf of the company’s owners.
The talks come only 18 months after OMERS and Stilmark set up a joint venture, dubbed Symphony Consortium, to work together to chase Australian towers portfolios.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hamish Blake wins Gold Logie for Most Popular Personality on Australian TelevisionHamish Blake has claimed the TVWeekLogies biggest award, winning the coveted Gold Logie for Most Popular Personality on Australian Television. 🏆 9News MORE:
Read more »
Bruce McAvaney’s ‘obsessive’ post-Logies act of dedication that ‘sums him up’.Channel7 broadcasting icon Bruce McAvaney has been given a standing ovation at the TV Week Logie Awards after becoming the latest inductee into the Hall of Fame. 7NEWS
Read more »
Aussie crypto exchanges confident ‘winter’ will thawDespite US giant Coinbase slashing its workforce last week and some crypto exchanges halting withdrawals, Aussie operators say they are holding firm and thinking long-term.
Read more »
QIC’s private debt team hires from Aware SuperQIC’s mutli-sector private debt unit has added a director from Aware Super’s credit income team.
Read more »
'Absolutely awesome stuff': Aussie Jack Miller provides unforgettable moment for MotoGP fan in GermanyAustralian star Jack Miller finishes third in the German MotoGP, then provides a fan with an unforgettable moment after the race. Watch the footage.
Read more »