Simpson Represents Global Tower in American Tower Sale
Simpson Thacher is representing MIP Tower Holdings, the parent company of Global Tower Partners and related companies, in the $3.3 billion sale to American Tower. The purchase price will also include the assumption of $1.5 billion in existing debt, for a total purchase price of $4.8 billion. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2013.
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.
AMT is an independent owner, operator and developer of wireless and broadcast communications real estate. It owns and operates over 56,000 communications sites in the United States, Brazil, Chile, Colombia, Germany, Ghana, India, Mexico, Peru, South Africa and Uganda.