8-KMaterial AgreementsRegulation FDExhibits & Filings

AMERICAN TOWER CORP /MA/ 8-K Report, Material Agreement (Oct 21, 2015)

Filed October 21, 2015For Securities:AMT

Summary

On October 21, 2015, American Tower Corporation (AMT) announced a significant strategic transaction through its wholly-owned subsidiary, ATC Asia Pacific Pte. Ltd. The company entered into a Share Purchase Agreement to acquire approximately 51% of Viom Networks Limited, a major Indian telecommunications infrastructure company, for approximately 76 billion Indian Rupees (subject to adjustments). This acquisition, expected to close in mid-2016, will add approximately 42,200 wireless communication towers and 200 indoor distributed antenna systems to AMT's portfolio, significantly expanding its presence in the key Indian market. The transaction details also include a Shareholders Agreement with Viom and remaining shareholders, outlining governance rights, pre-emptive rights, transfer restrictions, and put/call options. These provisions will govern the relationship between AMT and the minority shareholders of Viom post-acquisition. The company also announced that presentation slides regarding this transaction would be made available on its website.

Key Highlights

  • 1American Tower (AMT) to acquire a 51% stake in India's Viom Networks for approximately INR 76 billion.
  • 2The acquisition includes approximately 42,200 wireless towers and 200 indoor DAS systems in India.
  • 3The transaction is expected to close in mid-2016, subject to regulatory approvals and customary closing conditions.
  • 4A Shareholders Agreement has been entered into, defining rights and obligations with remaining Viom shareholders.
  • 5The deal significantly expands AMT's footprint in the growing Indian telecommunications market.
  • 6AMT's subsidiary, ATC Asia Pacific Pte. Ltd., is the purchasing entity, with American Tower International, Inc. guaranteeing payment.

Frequently Asked Questions

This 8-K filing announces American Tower Corporation's entry into a material definitive agreement to acquire a controlling stake (approximately 51%) in Viom Networks Limited, a major Indian tower company.

The acquisition involves a cash consideration of approximately 76 billion Indian Rupees, subject to certain adjustments. This transaction is expected to significantly expand American Tower's operational footprint in India.

The transaction is expected to close in mid-2016, contingent upon obtaining necessary regulatory approvals and satisfying other customary closing conditions. The Share Purchase Agreement contains a termination clause if closing does not occur by July 31, 2016.

The Shareholders Agreement, effective upon closing, covers aspects such as board representation based on ownership percentage, pre-emptive rights for new share issuances, restrictions on selling shares, and put/call options between American Tower and the remaining Viom shareholders, providing a framework for future ownership adjustments and governance.