Atlas Towers sells SA unit to SBA for $140m

Bloomberg

Atlas Tower Pty Ltd is selling its South African tower portfolio to shareholder SBA Communications Corp for 2 billion rand ($140 million).
The US company will dispose of more than 900 towers in Africa’s most industrialised economy to SBA, Atlas Chief Executive Officer Nathan Foster said in Johanesburg.
The agreed price takes account of previous investments made by the buyer into Atlas’s business, he said.
“This will be the first African-focused sale for Atlas Towers,” the CEO said.