American Tower Corp. To Buy Eaton Towers In Approx. $1.85 Bln Deal - Quick Facts

(RTTNews) - American Tower Corp. (AMT) has reached a deal to acquire Eaton Towers Holding Limited for a total consideration, including assumption of debt, of approximately $1.85 billion. Eaton Towers owns and operates approximately 5,500 communications sites across five African markets. American Tower expects to close the acquisition by 2019-end, and to be immediately accretive to AFFO per share.

Jim Taiclet, CEO said: "This transaction will significantly augment our existing footprint in Africa and positions ATC to take even better advantage of the growth opportunity in the region as 4G mobile data technology is deployed to serve millions of Africans over the coming years."