Crown Castle International Corp., the largest provider of shared wireless infrastructure in the US, is considering the sale of its share in Australian subsidiary CCAL. Crown Castle currently owns a 77.6% stake in CCAL which is the largest wireless tower operator in Australia. The CCAL portfolio includes 1,772 towers with an average tenancy believed to be around 2.4, generating roughly US$107bn EBITDA on an LQA basis. According to the Australian Financial Review, the towers are expected to sell for ~US$1.25bn, representing 17x-18x earnings. Crown Castle Australia has been responsible for the vast majority of tower deals in Australia since it was founded in 2000; it built its portfolio with towers acquired from Optus, Hutchison and Vodafone between 2000 and 2008.
