Our M&A lawyers are among the most experienced and effective in the world. We represent many of the world's largest publicly traded and privately held companies, as well as leading private equity firms on their most important mergers, acquisitions and takeover transactions.
American Tower to Purchase Cell C's South African Tower Portfolio
On November 5, Paul, Weiss client Cell C (Pty) Ltd, together with American Tower Corporation, announced that they have entered into an agreement for the sale of up to 1,400 of Cell C's existing communications towers and up to 1,800 additional communications towers that are either under construction or will be constructed, for an aggregate purchase price of up to approximately $430 million. This precedent-setting transaction is the first large sale-leaseback of communications towers to be announced in the country of South Africa.
Cell C, South Africa's third cellular operator with more than seven million subscribers, will be an anchor tenant on each of the towers purchased. Cell C's new relationship with American Tower will enable it to further enhance the quality and coverage of its cellular network.
The Paul, Weiss team representing Cell C includes corporate partner Bruce Gutenplan; real estate partner Mitchell Berg; London-based securities partner Mark Bergman; and tax partner Peter Rothenberg.