UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): January 2, 2020
AMERICAN TOWER CORPORATION
(Exact Name of Registrant as Specified in Charter)
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | |||
(Address of Principal Executive Offices) (Zip Code)
(617 ) 375-7500
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Item 7.01 Regulation FD Disclosure.
On January 2, 2020, American Tower Corporation (the “Company”) issued a press release (the “Press Release”) providing information about the closing of its previously announced acquisition of Eaton Towers Holdings Limited and about the Company’s agreement with MTN Group Limited (“MTN”) to acquire MTN’s interests in each of the Company’s joint ventures in Ghana and Uganda.
Exhibit 99.1 is furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such exhibit be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. | Description | |
99.1 | ||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AMERICAN TOWER CORPORATION | |||
(Registrant) | |||
Date: | January 2, 2020 | By: | /s/ Thomas A. Bartlett |
Thomas A. Bartlett | |||
Executive Vice President and Chief Financial Officer | |||
Exhibit 99.1
Contact: Igor Khislavsky
Vice President, Investor Relations
Telephone: (617) 375-7500
AMERICAN TOWER CLOSES EATON TOWERS TRANSACTION AND ANNOUNCES AGREEMENT TO ACQUIRE JOINT VENTURE STAKES IN GHANA AND UGANDA FROM MTN
Boston, Massachusetts - January 2, 2020 - American Tower Corporation (NYSE: AMT) announced today that it has closed its previously announced acquisition of Eaton Towers Holdings Limited (“Eaton Towers”), adding approximately 5,700 communications sites to its African portfolio. Total consideration for the acquisition, subject to certain post-closing adjustments, was approximately $1.85 billion, including the assumption of existing Eaton Towers debt.
The Company has also reached an agreement with MTN Group Limited (“MTN”) to acquire MTN’s minority stakes in each of the Company’s joint ventures in Ghana and Uganda for total consideration of approximately $523 million. 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 $65 million in 2020 from the payment of previously deferred cash interest related to joint venture debt.
About American Tower
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 177,000 communications sites. For more information about American Tower, please visit www.americantower.com.
Cautionary Language Regarding Forward-Looking Statements
This press release contains statements about future events and expectations, or “forward-looking statements,” all of which are inherently uncertain. We have based those forward-looking statements on management’s current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, statements regarding our expectations for the acquisition of MTN’s interests, the expected consideration for the transaction and the impact on our consolidated results. These forward-looking statements involve a number of risks and uncertainties. For important factors that may cause actual results to differ materially from those indicated in our forward-looking statements, we refer you to the information contained in Item 1A of our Form 10-K for the year ended December 31, 2018, as updated in Part II, Item 1A of our Form 10-Q for the quarter ended September 30, 2019, under the caption “Risk Factors” and in other filings we make with the Securities and Exchange Commission. We undertake no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.
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