Connect with us

Globe Trotting

American Tower to buy Eaton

American Tower Corporation has entered into a definitive agreement to acquire Eaton Towers Holding Limited (Eaton Towers), which owns and operates approximately 5500 communications sites across five African markets. As a result of the transaction, the company also expects to accelerate new build activity across the region due to expanded relationships with multiple key tenants. The total consideration for the transaction, including the company’s assumption of existing Eaton Towers debt, is approximately USD 1.85 billion, subject to customary closing adjustments.

The assets are expected to generate approximately USD 260 million in property revenue and approximately USD 165 million in gross margin, at current exchange rates, in their first full year in American Tower’s portfolio. The transaction is anticipated to be immediately accretive to consolidated AFFO per share and is expected to close by the end of 2019, subject to customary closing conditions and regulatory approvals.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

error: Content is protected !!