GIP plans to acquire Tower Vision India Pvt in a $400-million deal

Global Infrastructure Partners is exploring a potential acquisition of Tower Vision India Pvt, an independent telecommunications infrastructure provider in India, people with knowledge of the matter said. 

The private equity firm has been sounding out financing for a potential deal that could value Tower Vision India at about $300 million to $400 million, said the people, who asked not to be identified discussing private information. 

GIP already owns a significant stake in Indian tower owner Ascend Telecom Infrastructure Pvt. Deliberations are ongoing and GIP could decide not to proceed with a transaction, according to the people. 

Representatives for GIP and Tower Vision didn’t immediately respond to requests for comment. 

Tower Vision was founded in 2006 and operates about 9,000 towers across India, according to its website. The firm serves telecom operators including Bharti Airtel Ltd. and Reliance Jio Infocomm Ltd.