American Tower Corp. & KIO Networks Announce the Closing of American Tower’s Acquisition of KIO’s Urban Telecommunication...
November 17 2017 - 5:00PM
Business Wire
American Tower Corporation (NYSE: AMT) and KIO Networks
announced today the closing of American Tower’s acquisition of KIO
Networks’ subsidiary, which holds more than 50,000 concrete poles
and approximately 2,100 route miles of fiber, primarily located in
Mexico’s key urban centers. The total cash consideration for the
transaction is approximately $500 million, subject to customary
working capital adjustments.
Hal Hess, American Tower’s EVP and President, EMEA and Latin
America, stated, “We are pleased to close this transaction, which
we expect not only to enhance the value of our existing tower
portfolio in Mexico, but also to better position American Tower to
capture a larger share of future urban 4G network densification
efforts and the eventual rollout of 5G.”
Sergio Rosengaus, KIO Networks’ Chief Executive Officer stated,
“We are glad to announce the closing of a successful transaction
between American Tower and KIO, which we believe will further
enhance competition in the Mexican telecommunications environment
and contribute to satisfying the growing demand for high-quality
bandwidth services. We look forward to continue growing the
telecommunications industry in Mexico hand in hand with American
Tower.”
Citigroup acted as American Tower's exclusive financial adviser
and Kilpatrick Townsend & Stockton and Holland & Knight as
its legal advisers.
Barclays acted as financial advisor for KIO Networks, with
Santander providing valuation services. Gonzalez Calvillo S.C.
acted as legal advisor.
About American TowerAmerican Tower, one of the largest
global REITs, is a leading independent owner, operator and
developer of multitenant communications real estate with a
portfolio of approximately 149,000 communications sites. For more
information about American Tower, please visit
www.americantower.com.
About KIO NetworksKIO Networks is Mexico’s leading IT
infrastructure service provider, offering a suite of customized
services, specializing in managed IT infrastructure service
solutions, colocation and cloud computing offerings. Headquartered
in Mexico City, KIO’s infrastructure network comprises data centers
located across technology campuses in Mexico, Central America and
Spain. For more information about KIO Networks, please visit
www.kionetworks.com.
American Tower | Cautionary Language Regarding
Forward-Looking StatementsThis press release contains
statements about future events and expectations, or
“forward-looking statements,” all of which are inherently
uncertain. We have based those forward-looking statements on
management’s current expectations and assumptions and not on
historical facts. Examples of these statements include, but are not
limited to, the transaction’s impact on our consolidated results
and the expected cash consideration for the transaction. These
forward-looking statements involve a number of risks and
uncertainties. For important factors that may cause actual results
to differ materially from those indicated in our forward-looking
statements, we refer you to the information contained in Item 1A of
our Form 10-K for the year ended December 31, 2016 under the
caption “Risk Factors” and in other filings we make with the
Securities and Exchange Commission. We undertake no obligation to
update the information contained in this press release to reflect
subsequently occurring events or circumstances.
KIO Networks | Note on Forward-Looking StatementsThis
document contains statements that are forward-looking, which are
statements other than statements of historical fact and are often
characterized by the use of words such as “believes”, “expects”,
“estimates”, “projects”, “may”, “will”, “intends”, “plans” or
“anticipates”, and similar terms and phrases or by discussions of
strategy, plans or intentions, and may include reference to
assumptions. Such forward-looking statements are based on current
expectations and projections about future events and trends that
may affect the Company’s business and are not guarantees of future
performance. Investors are cautioned that any such forward-looking
statements are and will be, as the case may be, subject to many
risks, uncertainties and other factors that are difficult to
predict and could cause results to differ materially from those
expressed in forward-looking statements. Readers are cautioned not
to place undue reliance on forward-looking statements. This
document includes non-IFRS, non-GAAP and non-MFRS financial
measures, including Adjusted EBITDA. You should consider these
measures, which we believe investors consider useful in assessing
our performance and compliance with our financial covenants,
together with the GAAP measures from our financial statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20171117005846/en/
ATC Contact:Igor Khislavsky, 617-375-7500Director, Investor
Relationsinvestor.relations@americantower.comorKIO Networks
Contact:David Craig, +5255 8503-2600Investor Relations
Officerinvestor.relations@kionetworks.com
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