Crown Castle is expecting for bids for its Australian tower subsidiary, Crown Castle Australia, this week and wants a deal signed by the end of next week, the Australian Financial Review reported. They reported UBS has been advising Morrison & Co., a New Zealand infrastructure company, in its offer for the $1.5 billion company. “Morrison is up against fellow infrastructure managers Brookfield and Macquarie Infrastructure and Real Assets. As Street Talk reported a fortnight [two weeks] ago, Brookfield has teamed up with Digital Bridge Holdings, a US-based private equity firm run by Marc Ganzi and former Blackstone telecom chief Ben Jenkins,” the Australian Financial Review explained. Crown Castle Australia is the largest independent communications tower owner in the country with 1,800 sites. Bidders expect Crown Castle to be sold at 19-times earnings or higher, exceeding initial expectations.
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