ATC, Algar buy Cemig assets

American Tower Corp (ATC) and local telco Algar Telecom SA have acquired the broadband network of Brazil’s state-run utility company Companhia Energetica de Minas Gerais SA (aka Cemig).

With a premium of more than 70%, American Tower won the auction for Lot 1 of Cemig Telecom's assets, paying BRL 571m (US$150.2m). The minimum price was BRL 335m (US$88.1m) and Lot 1 includes infrastructure assets in Minas Gerais, Rio de Janeiro and Sao Paulo. Lot 2 with assets in the Northeast and Goias, with a minimum price of BRL 32.47m (US$8.54m), was sold to regional operator Algar Telecom for BRL 77.8m (US$20.5m), a 139% premium.

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Published on 15.08.2018
Published on 15.08.2018
Published on 15.08.2018