AMT to acquire BR Towers
16 June 2014 |
American Tower Corporation (AMT) is reportedly set to acquire Brazilian telecoms infrastructure operator BR Towers for nearly $1 billion.
BR Towers owns approximately 2,530 towers and the exclusive use rights to approximately 2,110 additional towers across Brazil.
US-based AMT has reached the agreement with a private equity fund managed by GP Investments, which is backed by Brazilian bank Bradesco BBI.
AMT estimates that BR Towers will generate approximately $131 million in annual run rate revenues and approximately $81 million in annual gross margin.
AMT owns and operates 67,000 towers globally, including over 1,100 towers in Chile, over 3,400 in Colombia and over 490 in Peru.
The transaction is subject to regulatory approvals and is expected to close in the fourth quarter of 2014.
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