American Tower Corporation is set to acquire BR Towers, a Brazilian telecom real estate company, for $978 million.
The company has signed 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, for the purpose.
The acquisition enables American Tower to own nearly 2,530 towers and get rights for nearly 2,110 additional towers in Brazil.
Also read: Reliance Jio in telecom tower deal with ATC India
American Tower anticipates that the towers will generate approximately $131 million in annual run rate revenues and approximately $81 million in annual Gross Margin and anticipates that the acquisition will be immediately accretive to Adjusted Funds From Operations upon closing.
Also read: American Tower to acquire telecom towers in Brazil and Mexico
In 2013, American Tower Corporation signed agreement with NII Holdings, (NIHD) to acquire up to 2,790 towers in Brazil and 1,666 towers in Mexico. The two transactions were worth approximately $413 million and $398 million, respectively.
American Tower currently owns and operates approximately 68,000 communications sites in the United States, Brazil, Chile, Colombia, Costa Rica, Germany, Ghana, India, Mexico, Panama, Peru, South Africa and Uganda.
