BOSTON–(BUSINESS WIRE)–Jan. 2, 2020– American Tower Corporation (NYSE:AMT) announced today that it has closed its previously announced acquisition of Eaton Towers Holdings Limited (“Eaton Towers”), adding approximately 5,700 communications sites to its African portfolio. Total consideration for the acquisition, subject to certain post-closing adjustments, was approximately $1.85 billion, including the assumption of existing Eaton Towers debt.
The Company has also reached an agreement with MTN Group Limited (“MTN”) to acquire MTN’s minority stakes in each of the Company’s joint ventures in Ghana and Uganda for total consideration of approximately $523 million. The transaction is expected to close in the first quarter of 2020, subject to regulatory approval, and will result in a one-time impact for American Tower of approximately $65 million in 2020 from the payment of previously deferred cash interest related to joint venture debt.
About American Tower
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 177,000 communications sites. For more information about American Tower, please visit www.americantower.com.