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On September 8, 2026, TD Asset Management Inc., through the TD Greystone Infrastructure Fund, announced it had agreed to acquire VodafoneZiggo's passive mobile tower infrastructure from Ziggo BV, a subsidiary of Ziggo Group, alongside DigitalBridge and Legal & General. The infrastructure will be acquired by an entity jointly owned by funds managed by the three parties — the DigitalBridge Strategic Asset Fund, L&G's Digital Infrastructure Fund and the TD Greystone Infrastructure Fund. Liberty Global, which took majority control of VodafoneZiggo earlier in 2026, announced the sale of the Dutch tower assets for a consideration of €669 million, valuing them at 16.2 times their pro forma 2025 EBITDA. Proceeds are to be used to retire debt across Ziggo Group, the Benelux telecommunications company that holds Liberty Global's interests in VodafoneZiggo and Telenet, ahead of an intended Amsterdam listing of Ziggo Group in 2027. The acquired business will be combined with Belgium Tower Partners, DigitalBridge's existing tower platform in Belgium, to create an independent telecommunications tower platform with more than 6,600 sites across Belgium and the Netherlands, anchored by VodafoneZiggo and Telenet. VodafoneZiggo will retain control of its active mobile network, spectrum and network strategy. The transaction is subject to customary closing conditions, regulatory approvals and VodafoneZiggo works council consultation, and is expected to close in early 2027. TD Asset Management, headquartered in Toronto, is a member of TD Bank Group and a global investment management firm.
Parties
Company
TD Asset Management Inc.
Company
TD Greystone Infrastructure Fund
Deal Type
Merger & AcquisitionIndustry
Tech/Computer/ITTransaction
$ 1,074,815,400Deal Status
ActiveClosing Date