India, Aug. 1 -- TELUS has entered into a definitive agreement with La Caisse, Canada's second-largest pension fund, who will acquire a 49.9% equity interest in each of Terrion LP and its general partner, Terrion GP Inc., for approximately $1.26 billion. The transaction values Terrion LP at over $2.5 billion and is expected to reduce TELUS' net debt by approximately $1.26 billion. TELUS will hold a 50.1% equity interest in Terrion.
Terrion LP will hold passive macro wireless infrastructure assets, commonly known as cell towers, that TELUS is carving out of its business. TELUS will retain full ownership and control of all active network components and security systems. Under the terms of a pre-closing reorganization, Terrion will emerge as ...