American tower to purchase Brazil's BR Towers

|About: American Tower Corporation (AMT)|By:, SA News Editor

BR Towers S.A. owns about 2,530 towers and the exclusive rights to another 2,110, and American Towers (AMT) is buying for about $978M.

The towers are expected to generate about $131M in annual revenue and roughly $81M in annual gross margin. The deal is expected to be immediately accretive to adjusted FFO upon closing (anticipated in Q4).