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News Breaks
June 16, 2014
05:12 EDTAMTAmerican Tower acquires BR Towers in Brazil for $978M
American Tower announced that it has reached an agreement with GPCP V, a private equity fund managed by GP Investments, 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 $978M, subject to customary adjustments, will be satisfied with a combination of cash and the assumption of certain existing indebtedness. American Tower anticipates that the towers will generate approximately $131M in annual run rate revenues and approximately $81M in annual Gross Margin and anticipates that the acquisition will be immediately accretive to Adjusted Funds From Operations upon closing. The transaction is expected to close in Q4.
News For AMT From The Last 14 Days
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June 29, 2015
06:52 EDTAMTAmerican Tower, Carlyle leading bidders for Reliance stake, Economic Times says
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June 23, 2015
06:50 EDTAMTAmerican Tower, IHS Nigeria interested in Mobily, Bloomberg reports
American Tower and IHS Nigeria are said to be interested in Saudi Arabian tower company Mobily, which is operated by Etihad Etisalat Co, Bloomberg reports, citing two sources. Mobily, which could be valued at $2B in a sale, has hired TAP Advisors, and discussions are at an early stage with no bids submitted. Reference Link
June 18, 2015
10:01 EDTAMTOn The Fly: Analyst Initiation Summary
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06:18 EDTAMTAmerican Tower initiated with a Buy at BTIG
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