American Tower Corporation (NYSE: AMT) yesterday announced that it has closed the first tranche of its Telxius Towers acquisition, comprised of nearly 20,000 communications sites in Germany and Spain, for U.S.$7.6 billion. The closing was funded by a combination of cash on hand and borrowings under the company’s revolving credit facilities and term loans. Approximately 4,000 additional rooftop communications sites in Germany are expected to close in the third quarter of 2021.
Tom Bartlett, American Tower’s Chief Executive Officer said, “We are excited to close on these high-quality, well-located assets and are ready to quickly and efficiently integrate them into our existing European portfolio. As one of the largest independent communications infrastructure providers in Europe, we believe we are now optimally positioned to benefit from accelerating 5G deployments across the region through a combination of organic growth, new builds and the potential for selective future acquisitions.”
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