American Tower Corporation (REIT) (NYSE:AMT) entered into a definitive agreement to acquire the European Business of Telxius Telecom S.A. on January 13, 2021. The purchase price is payable in cash and is subject to customary closing adjustments. In a related transaction, American Tower Corporation is acquiring Latin American Business of Telxius Telecom S.A. and the combined purchase price for both the transactions is approximately €7.7 billion payable in cash. American Tower intends to finance the transaction in a manner consistent with maintaining its investment grade credit rating and has obtained committed financing from Bank of America. American Tower Corporation entered into a commitment letter dated January 13, 2021, with Bank of America, N.A. and BofA Securities, Inc. (collectively, the “Commitment Parties”), pursuant to which the Commitment Parties have committed to provide up to €7.5 billion in bridge loans to ensure financing for the Transactions. The transaction provides for a commitment to the employment by American Tower Corporation. Telefónica Group operators will maintain the current leases agreements of the towers signed with the companies sold subsidiaries of Telxius Telecom, S.A. Telxius will reduce its debt as a result of sale. As on February 10, 2021, the Bridge Loan Commitment was reduced to €4.275 billion as a result of an aggregate of €3.225 billion of additional committed amounts under the 2019 Multicurrency Credit Facility, the 2019 Credit Facility and the 2021 Delayed Draw Term Loans. On May 21, 2021, American Tower Corporation completed a registered public offering of €750 million aggregate principal amount of its 0.450% senior unsecured notes due 2027, €750 million aggregate principal amount of its 0.875% senior unsecured notes due 2029 and €500 million aggregate principal amount of its 1.250% senior unsecured notes due 2033, which resulted in aggregate net proceeds to the Company of approximately €1,983.1 million, after deducting commissions and estimated expenses. The company intends to use all of the net proceeds for general corporate purposes, including the company’s transaction with Telxius Telecom, S.A. The transaction is subject to government and regulatory approvals and customary closing conditions and is expected to close in multiple tranches, beginning in the second quarter of 2021.The transaction is anticipated to be immediately accretive to consolidated AFFO per share. As of April 28, 2021, the Company has received all required government and regulatory approvals in Germany and Spain and expects to close on the majority of the European sites in the second quarter of 2021, with approximately 4,000 sites in Germany expected to close in the third quarter of 2021. As of June 1, 2021, American Tower Corporation completed the acquisition of first tranche of Telxius Towers acquisition, comprised of nearly 20,000 communications sites in Germany and Spain. American Tower Corporation paid €6.2 billion for 20,000 towers while the acquisition of additional 4,000 rooftop communications sites in Germany are expected to close in the third quarter of 2021. As per filing on July 29, 2021, Approximately 4,000 remaining rooftop communications sites in Germany are expected to close in August 2021. As of August 2, 2021, Approximately 4,000 remaining rooftop communications sites in Germany got acquired. BofA Securities, Inc. acted as financial advisor for American Tower Corporation. CDX Advisors and EA Markets acted as financial advisors for BofA Securities. Fernando Torrente, Tom Levine, Christian Hilmes, Teresa Mendez and Ruediger Klueber of Allen & Overy acted as real estate advisors to American Tower Corporation. Gary E Silacci, Dane A Heilner, Anil Bharwani and José Enrique Padilla of EY Abogados acted as legal advisor in the transaction. Fernando Alves Meir and Leonardo Rocha e Silva of Pinheiro Neto Advogados, BAZ | DLA Piper and Marval, O'Farrell & Mairal acted as legal advisor to American Tower Corporation. Alvaro Membrillera of Paul, Weiss, Rifkind, Wharton & Garrison acted as legal advisor for KKR, minority stake holder in Telxius. Ernst & Young Transaction Advisory Services España acted as sale and purchase agreement advisor, financial advisor and due diligence provider to Telefónica, S.A. parent of Telxius Telecom S.A. Latham & Watkins LLP represents Goldman Sachs as financial advisor to Telxius Telecom S.A. American Tower Corporation (REIT) (NYSE:AMT) completed the acquisition of the European Business of Telxius Telecom S.A. for approximately €600 million on August 2, 2021. Out of the total consideration of €603.7 million, €513.1 million was paid at closing, whereas the remaining €90.6 million will be deferred.