American Tower to Acquire Joint Venture Stakes in Ghana, Uganda
January 02 2020 - 8:51AM
Dow Jones News
By Michael Dabaie
American Tower Corp. (AMT) said it would acquire MTN Group
Ltd.'s (MTN.JO) minority stakes in each of the company's joint
ventures in Ghana and Uganda for a total of about $523 million.
The transaction is expected to close in the first quarter of
2020. The deal will result in a one-time impact for American Tower
of about $65 million in 2020 from the payment of previously
deferred cash interest related to joint venture debt, the company
said.
The real estate investment trust, which owns multitenant
communications real estate, also said Thursday it closed its
previously announced acquisition of Eaton Towers Holdings Ltd.,
adding about 5,700 communications sites to its African
portfolio.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
January 02, 2020 08:36 ET (13:36 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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