RTTNews | Jan 13, 2021 01:15AM EST

01:15 Wednesday, January 13, 2021 (RTTNews.com) - American Tower Corp. (AMT) said it will acquire Telxius Towers, comprising approximately 31,000 existing communications sites in Germany, Spain, Brazil, Chile, Peru and Argentina. The total consideration for the deal is approximately 7.7 billion euros.

American Tower expects the assets to generate approximately $775 million in property revenue, approximately $410 million in gross margin, and approximately $390 million in adjusted EBITDA at current foreign exchange rates, in their first full year in its portfolio. The company projects the acquisition to be immediately accretive to consolidated AFFO per share.

American Tower also expects to spend approximately $500 million to construct a committed pipeline of approximately 3,300 new sites in Germany and Brazil through 2025.

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