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Stock Market & Financial Investment News

News Breaks
December 4, 2013
07:00 EDTSBACSBA Communications acquires 2000 additional wireless sites in Brazil
SBA Communications has entered into a definitive agreement with certain subsidiaries of Oi SA, one of Brazil's largest telecommunications service providers, and its affiliates, under which SBA will acquire 2,007 wireless sites in Brazil. Upon closing of the transaction, Oi will enter into a long-term lease with SBA, with monthly lease payments, for antenna space on each of these sites. The transaction is expected to close on or before March 31, 2014. The consideration to be paid by SBA will be approximately $645M. SBA expects to fund the purchase price from cash on hand, existing revolver capacity and/or future debt issuances. SBA anticipates that the sites will contribute approximately R$110M of cash leasing revenue and R$70M of tower cash flow to SBA's results during 2014. SBA anticipates that the transaction will be immediately accretive to AFFO per share.
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April 14, 2014
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