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

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(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
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