American Tower Corporation (NYSE: AMT) and KIO Networks has announced the closing of American Tower´s acquisition of KIO Networks´ subsidiary, which holds more than 50,000 concrete poles and approximately 2,100 route miles of fiber, primarily located in Mexico´s key urban centers, the company said.
The total cash consideration for the transaction is approximately USD 500 million, subject to customary working capital adjustments.
Citigroup acted as American Tower´s exclusive financial adviser and Kilpatrick Townsend & Stockton and Holland & Knight as its legal advisers.
Barclays acted as financial advisor for KIO Networks, with Santander providing valuation services. Gonzalez Calvillo S.C. acted as legal advisor.
American Tower, one of the largest global REITs, is a independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 149,000 communications sites. For more information about American Tower, visit www.americantower.com.
KIO Networks is Mexico´s IT infrastructure service provider, offering a suite of customized services, specializing in managed IT infrastructure service solutions, colocation and cloud computing offerings. Headquartered in Mexico City, KIO´s infrastructure network comprises data centers located across technology campuses in Mexico, Central America and Spain. For more information about KIO Networks, visit www.kionetworks.com.