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SBA Communications in $645M deal to add 2,000+ Brazil wireless sites

  • SBA Communications (SBAC) announces an expansion of operations in Brazil with the acquisition of 2,007 additional wireless sites for ~$645M at current exchange rates.
  • Oi SA (OIBR), one of Brazil's largest telecommunications service providers, and its affiliates, will enter into a long-term lease with SBA for antenna space on each of the sites.
  • SBA expects the sites will contribute ~R$110M of cash leasing revenue and R$70M of tower cash flow to results during 2014, and anticipates the transaction will be immediately accretive to AFFO/share.
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