Summary
American Tower Corporation (AMT) announced on December 19, 2016, a significant strategic move into the French market through the acquisition of FPS Towers. This transaction, valued at approximately 697 million Euros (around $726 million), involves acquiring 100% of FPS Towers, which owns and operates roughly 2,400 wireless tower sites in France. The deal is expected to close in the first quarter of 2017, subject to customary closing conditions, regulatory approval, and consultation with FPS' employee representative body.
Key Highlights
- 1American Tower (AMT) is entering the French market with the acquisition of FPS Towers.
- 2The acquisition involves approximately 2,400 wireless tower sites in France.
- 3The total consideration for the acquisition is approximately 697 million Euros, or $726 million.
- 4The transaction is expected to close in the first quarter of 2017.
- 5This move represents a significant expansion of AMT's international tower portfolio.
- 6AMT will make presentation slides available to investors regarding this expansion.
Frequently Asked Questions
This 8-K filing announces American Tower's entry into the French market through the acquisition of FPS Towers, a French wireless tower operator.
The acquisition is valued at approximately 697 million Euros, which was equivalent to about $726 million at the time of the filing, subject to certain adjustments.
The transaction is anticipated to close during the first quarter of 2017, pending the satisfaction of closing conditions, regulatory approvals, and consultation with the relevant employee representative body.
American Tower announced that presentation slides regarding their entrance into France would be made available to investors on their website, www.americantower.com, under the Investor Relations tab, beginning December 19, 2016.