Liberty Global has agreed a deal to sell towers owned by its Dutch mobile carrier VodafoneZiggo for €669 million ($778m) to a consortium led by DigitalBridge.

The deal was confirmed on Tuesday (September 8), shortly after the Financial Times reported about the planned sale.

Liberty Global confirmed the tower assets will be transferred to an entity jointly owned by funds managed by DigitalBridge, TD Greystone Infrastructure and L&G.

The deal comes as Liberty Global prepares to list Ziggo Group, which also owns Belgian mobile and broadband operator Telenet, in the second half of next year.

“This transaction represents another important step towards the compelling listing of Ziggo Group next year. Through this disposal and others that are underway, we are creating a stronger platform for long-term growth and value creation for existing Liberty Global shareholders and local investors who want to own part of this regional telecoms powerhouse,” said Mike Fries, chairman and CEO of Liberty Global.

According to Liberty Global, the sale of these towers values the assets at 16.2x their 2025 EBITDA.

The sale further strengthens the company’s ambitions to list Ziggo Group next year, as the company aims to raise between €1.2 billion ($1.4bn) and €1.4 billion ($1.63bn) from non-core asset disposals.

Liberty Global completed its buyout of VodafoneZiggo in August, after acquiring Vodafone’s 50 percent stake in the carrier.

Liberty Global and Vodafone formed VodafoneZiggo in 2016 by merging Vodafone Netherlands and Ziggo. The telco serves around six million mobile subscribers.