Allianz Capital Partners GmbH, on behalf of Allianz European Infrastructure Fund S.A. RAIF and Allianz insurance companies, agreed to acquire a 10% stake in ATC Europe from American Tower Corporation in a transaction valued at more than ?530 million, implying an enterprise value of approximately ?8.8 billion.
June 15, 2021
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Allianz Capital Partners GmbH, on behalf of Allianz European Infrastructure Fund S.A. RAIF and Allianz insurance companies, agreed to acquire a 10% stake in ATC Europe from American Tower Corporation (REIT) (NYSE:AMT) in a transaction valued at more than ?530 million, implying an enterprise value of approximately ?8.8 billion, on June 16, 2021. As a result of the transaction, American Tower Corporation (REIT) will be acquiring an additional stake in ATC Europe. Pursuant to the transaction, American Tower will retain managerial and operational control, as well as day-to-day oversight of ATC Europe, while Allianz will obtain seats on ATC Europe?s Board of Directors, along with certain governance rights. The transaction is subject to customary closing conditions, including regulatory approvals and expected to close in the third quarter of 2021. Nomura Bank International plc acted as financial advisor to Allianz Capital Partners GmbH. Allen & Overy LLP is acting as legal advisor to American Tower.
American Tower Corporation specializes in owning, developing and operating of wireless and broadcast communications infrastructure. Net sales break down by activity as follows:
- rental and management of communications sites (98.7%): wireless towers (224,502 towers owned at the end of 2023), broadcast towers and distributed antenna systems (integrated systems in operated in malls and casino/hotel resorts). The group also leases antenna space on communications towers, manages tower sites for third parties and provides rooftop management services;
- network development services (1.3%): providing of tower site acquisition, zoning and permitting services, and structural analysis services to wireless carriers in connection with the installation of communications equipment on towers.
Net sales are distributed geographically as follows: the United States (55.5), Brazil (7.1%), Mexico (5.5%), Latin America (3.6%), Africa (11%), India (10.2%), Europe ( 7%) and others (0.1%).
Allianz Capital Partners GmbH, on behalf of Allianz European Infrastructure Fund S.A. RAIF and Allianz insurance companies, agreed to acquire a 10% stake in ATC Europe from American Tower Corporation in a transaction valued at more than ?530 million, implying an enterprise value of approximately ?8.8 billion.
AMERICAN TOWER CORPORATION 
