SBA Communications Launches Brazil Operations, Acquires 800 Towers
Dec 26th 2012 9:03PM
Updated Dec 26th 2012 9:10PM
SBA Communications (NAS: SBAC) has commenced operations in Brazil by buying 800 towers, the company announced in an official press release. The mobile telecom infrastructure firm paid 362.8 million reals ($174 million) for its new assets from what it termed "one of the leading broadband wireless carriers" in the country. The Wall Street Journal named the seller as Vivo, a subsidiary of Telefonica Brasil (NYS: VIV) .
SBA said that the towers will bring in roughly 19 million to 23 million reals ($9 million-$11 million) in tower cash flow for calendar 2013, and "be immediately accretive to [adjusted funds from operations] per share."
The company funded its acquisition from cash and a revolving credit facility.
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