American Tower Corporation Announces Acquisition of BR Towers in Brazil
Business Wire - Sun Jun 15, 9:30PM CDT
American Tower Corporation (NYSE:AMT) announced that it has reached an agreement with GPCP V, a private equity fund managed by GP Investments, Ltd., FIP Multisetorial Plus, a private equity fund managed by Bradesco BBI, and other shareholders, to acquire 100% of the equity interests of BR Towers S.A., a Brazilian telecommunications real estate company that is expected to own approximately 2,530 towers and the exclusive use rights for approximately 2,110 additional towers in Brazil at closing. The purchase price of approximately 2.18 billion Brazilian Reais, (approximately $978 million at current exchange rates) subject to customary adjustments, will be satisfied with a combination of cash and the assumption of certain existing indebtedness.