American Tower closes US$1.85bn Eaton Towers transaction, acquires joint venture

AFRICA – American Tower Corporation AMT, real estate investment trust, announced that it has closed its previously announced acquisition of private equity backed Eaton Tower.   This has enabled the company to add around 5,700 communications sites in its African portfolio. Total purchase consideration, subject to post-closing adjustments, approximated US$1.85 billion. This included the assumption of Eaton Towers’ existing debt. The transaction will enhance American Tower’s scale in five African markets, including Ghana, Kenya and Uganda.  When the transaction was announced in May 2019, the company had anticipated the assets to…

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