American Tower to sell 30% stake in ATC Europe in 1.6B-plus deal | AMT Message Board Posts


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Msg  52 of 61  at  5/10/2021 7:06:55 AM  by

jerrykrause


American Tower to sell 30% stake in ATC Europe in 1.6B-plus deal

from SNL Real Estate Daily
 
 

American Tower to sell 30% stake in ATC Europe in 1.6B-plus deal

 
 
Byline: Maera Tezuka
 
 

American Tower Corp. will sell a 30% stake in ATC Europe to Caisse de dépôt et placement du Québec, or CDPQ, in a deal valued at more than 1.6 billion.

The communications real estate investment trust will continue to have managerial and operational control over ATC Europe, while the Canada-based investor will join the company's board and will have certain governance rights.

The transaction, which gives ATC Europe an implied enterprise value of over 8.8 billion, is expected to close in the third quarter, subject to customary closing conditions.

BofA Securities Inc. and CDX Advisors are financial advisers to the REIT, while HSBC is financial adviser to CDPQ.

 


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