The new Amplitel business achieved an enterprise valuation of $A5.9 billion, representing 28x FY21 EBITDAaL1, at the top end of market expectations. Telstra retained governance controls and introduced capital and support from Australia’s largest sovereign funds.
This was a significant outcome, demonstrating Macquarie’s ability to work with its clients to monetise asset portfolios and to attract high quality private capital investors while maintaining corporate client’s critical access, and strategic control and desire for accounting consolidation.
Amplitel provides world-class infrastructure with an expansive towers network that underpins connectivity in Australia for Telstra, other carriers, government, and public and private organisations. With the funding support of its new investors, the Amplitel network can continue to grow to support connectivity for its customers and the community. This includes putting $A75 million from the proceeds of the part sale of the towers business towards boosting regional network coverage in Australia.