American Tower (NYSE: AMT) has agreed to sell its cell tower business in India to an affiliate of Brookfield Asset Management (NYSE: BAM). The leading real estate investment trust (REIT) focused on data infrastructure will receive about $2.5 billion of cash in the deal.

The transaction will allow American Tower to strengthen its balance sheet while enabling Brookfield Asset Management and its infrastructure-focused affiliate Brookfield Infrastructure (NYSE: BIPC)(NYSE: BIP) to deploy capital into a deal that should grow their cash flow. As a result, the transaction should enhance all three high-yield dividend stocks.

American Tower's telecom tower business in India has been more of a liability in recent years. The company's largest tenant in the country, Vodafone Idea (Vi), hasn't been making full rental payments since last March. That led the infrastructure REIT to launch a strategic review of that business.

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Source Fool.com