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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Standard Chartered Plc | LSE:STAN | London | Ordinary Share | GB0004082847 | ORD USD0.50 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-4.20 | -0.54% | 774.20 | 772.40 | 772.80 | 780.80 | 770.80 | 779.80 | 6,116,831 | 16:35:20 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Commercial Banks, Nec | 18.02B | 3.47B | 1.2403 | 6.23 | 21.61B |
By Colin Kellaher
American Tower REIT (AMT) on Thursday said it agreed to buy Eaton Towers Holding Ltd., which owns and operates roughly 5,500 communications sites in five African markets, for total consideration of about $1.85 billion, including $200 million in assumed debt.
The Boston communications real-estate investment trust said it expects the acquired assets to generate about $260 million in property revenue and $165 million in gross margin in the first full year.
American Tower, which currently has a portfolio of more than 170,000 communications sites, earlier this month said it expects 2019 property revenue of $7.135 billion to $7.285 billion.
Eaton, based in London, has communications sites in Burkina Faso, Kenya, Ghana, Niger and Uganda. American Tower said it expects expanded relationships with key Eaton tenants to help drive nearly 3,000 additional new builds over the next decade.
Private-equity firm Capital International Private Equity Funds owns a majority stake in Eaton, whose other investors include private-equity firms Development Partners International LLC and Ethos Private Equity, along with the venture arm of U.K. bank Standard Chartered PLC (STAN.LN).
Eaton last year postponed plans for an initial public offering over concerns about valuations, Bloomberg reported in June. Eaton had been seeking a valuation of about $2 billion in a sale in London and Johannesburg, according to the report.
American Tower said it will fund the acquisition of Eaton, which it expects to complete by the end of the year, with cash on hand and debt.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 30, 2019 09:08 ET (13:08 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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