Quantcast


Last updated: September 06. 2013 8:40AM - 206 Views
Associated Press



Story Tools:

Font Size:

Social Media:

(AP) American Tower says it's reached a deal to buy the parent company of Global Tower Partners, which owns about 5,400 cellular towers in the U.S., for about $4.8 billion.


Global Tower, which is majority owned by Macquarie Infrastructure Partners, also owns and operates about 800 properties in the U.S. under third-party communications sites, and has management rights to over 9,000 domestic sites.


It also owns 500 communications sites in Costa Rica.


American Tower Corp., a Boston-based wireless communications infrastructure company, says Global Power's portfolio of tower, rooftop and land assets is highly complementary to its own.


It expects Global Tower's portfolio to generate about $345 million in 2014 revenue and to immediately boost its adjusted funds from operations.


The deal is expected to close in the fourth quarter.


Associated Press
Comments
All user comments are subject to our Terms of Service. Users may flag inappropriate comments.
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com