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Share Name | Share Symbol | Market | Type |
---|---|---|---|
American Tower Corporation | NYSE:AMT | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
6.69 | 3.90% | 178.25 | 178.81 | 171.495 | 173.28 | 3,877,576 | 01:00:00 |
American Tower Corporation (AMT) said it will buy Brazilian telecommunications real-estate company BR Towers S.A. for about 2.18 billion Brazilian reais ($978 million).
The purchase will be funded through a combination of cash and debt, American Tower said in a statement.
The North American owner and operator of wireless and broadcast communications sites will buy the Brazilian assets from GPCP V, a private equity fund managed by GP Investments Ltd. (GPIV33.BR), FIP Multisetorial Plus, a private-equity fund managed by Bradesco BBI, and other shareholders.
American Tower expects the acquisition to be immediately accretive to its adjusted funds from operations upon closing.
BR Towers is expected to own 2,530 towers and have the exclusive-use rights for about 2,110 additional towers in Brazil at the deal's closing, likely in the fourth quarter, American Tower said.
The deal is subject to regulatory approvals and other customary closing conditions.
American Tower was advised by Banco Santander (Brasil) S.A.
Write to realtimedesksingapore@dowjones.com
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