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ATC closes purchase of Eaton Towers, to acquire JV stakes in Ghana and Uganda from MTN

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Thursday 2 January 2020 | 14:31 CET | News, TELECOMPAPER

American Tower Corporation (ATC) said it has closed its previously announced acquisition of Eaton Towers. With the deal, ATC adds about 5,700 communications sites to its African portfolio for a total of USD 1.85 billion, subject to certain post-closing adjustments, including the assumption of existing Eaton Towers debt.

ATC also reached an agreement with MTN Group to acquire MTN’s minority stakes in each of the company’s joint ventures in Ghana and Uganda for a total of USD 523 million. The transaction is expected to close in the first quarter of this year, subject to regulatory approval. This deal will result in a one-off charge for ATC of USD 65 million, from the payment of previously deferred cash interests related to joint venture debt.

—— AUTO – GENERATED; Published (Halifax Canada Time AST) on: January 02, 2020 at 04:30PM

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