American Tower brings Stonepeak in to $10.5 billion data centre business

American Tower has agreed a multi-billion-dollar deal for a sizeable chunk of its nascent data centre business in the US, bringing in investment firm Stonepeak to help finance future growth.
The company, whose core business is mobile towers, has been building up its data centre portfolio in recent years. It has now brokered a deal to offload a stake of around 29% to Stonepeak for $2.5 billion, a sum that values the business as a whole at $10.5 billion. Stonepeak will serve as a financial partner