Thursday, August 5, 2010

American Tower Corp. Acquires India's Essar Telecom Infrastructure

American Tower Corp., which owns and operates over 32,000 communications sites in the United States, Mexico, Brazil, Chile, and India, has acquired Essar Telecom Infrastructure Pvt. Ltd. (ETIPL) from the Essar Group, for approximately $430 million in cash.

The deal includes ETIPL's portfolio of over 4,600 wireless communications tower sites, as well as a number of towers under construction. The acquired portfolio includes sites across 14 of the 23 telecom circles in India and has an industry leading tenancy ratio of 1.9. In addition, this acquisition increases the size of the company's communications tower site portfolio in India by almost threefold and its global portfolio to more than 32,000 communication sites.

"The Essar acquisition brings us to a portfolio of over 7,000 communication tower sites in India, providing a solid platform for future revenue growth. We are excited about the ongoing potential of this market as our customers in India continue to build out their nationwide networks while also seeking to launch next generation technologies with newly awarded spectrum," said Jim Taiclet, Chairman, President and CEO.