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Slide #62. American Tower Corporation — Global Tower Partners
American Tower Corporation (NYSE:AMT)
Global Tower Partners
American Tower Corporation (NYSE:AMT) today announced that it has entered into a definitive agreement to acquire 100% of the outstanding common membership interests of MIP Tower Holdings LLC, a private real estate investment trust, which is the parent company of Global Tower Partners ("GTP"), and related companies, for a total purchase price of approximately $4.8 billion, subject to customary adjustments. GTP is majority owned by Macquarie Infrastructure Partners together with minority partners including Dutch pension fund manager PGGM and management. GTP owns and operates approximately 5,400 domestic towers, 800 domestic property interests under third-party communications sites, and has management rights to over 9,000 domestic sites, which are primarily rooftop assets. In addition, GTP owns 500 communications sites in Costa Rica.
American Tower is a holding company. Through its subsidiaries, Co. is a real estate investment trusts and an independent owner, operator and developer of multitenant communications real estate. Co.'s primary business is the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries. Co. also provides tower-related services, including site acquisition, zoning and permitting and structural analysis, which primarily support Co.'s site leasing business, including the addition of new tenants and equipment on its sites.
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Buy (3.36 out of 4)