American Tower to acquire BR Towers for $978 million

American Tower Corporation (ATC) is set to acquire BR Towers, a Brazilian telecom real estate company, for $978 million.

ATC 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 acquiring 100 per cent equity share in BR Towers.

At present, BR Towers owns 2,530 towers and has exclusive rights for accessing about 2,110 additional towers in Brazil. Following the acquisition, ATC expects the towers assets to generate about $131 million in annual revenues and about $81 million in annual gross margin.

Earlier in 2013, ATC signed agreement with NII Holdings, to acquire up to 2,790 towers in Brazil and 1,666 towers in Mexico. The two transactions were worth $413 million and $398 million, respectively.

At present, ATC owns and operates about 68,000 telecom tower sites in the United States, Brazil, Chile, Colombia, Costa Rica, Germany, Ghana, India, Mexico, Panama, Peru, South Africa and Uganda.