In addition to announcing the closure of its Eaton Towers’ acquisition, on the 2nd January 2020 American Tower announced it had agreed terms to buy-out MTN’s minority stakes in its joint venture towercos in Ghana and Uganda. American Tower will pay approximately US$523mn for MTN’s 49% stakes in each of the joint ventures. The transaction is expected to close in the first quarter of 2020, subject to regulatory approval, and will result in a one-time impact for American Tower of approximately US$65mn in 2020 from the payment of previously deferred cash interest related to joint venture debt.
The end of schmuck equity in Africa
