MEXICO CITY--(BUSINESS WIRE)--

American Tower Corporation (NYSE: AMT) and KIO Networks announced today the closing of American Tower’s acquisition of KIO Networks’ subsidiary, which holds more than 50,000 concrete poles and approximately 2,100 route miles of fiber, primarily located in Mexico’s key urban centers. The total cash consideration for the transaction is approximately $500 million, subject to customary working capital adjustments.

Hal Hess, American Tower’s EVP and President, EMEA and Latin America, stated, “We are pleased to close this transaction, which we expect not only to enhance the value of our existing tower portfolio in Mexico, but also to better position American Tower to capture a larger share of future urban 4G network densification efforts and the eventual rollout of 5G.”

Sergio Rosengaus, KIO Networks’ Chief Executive Officer stated, “We are glad to announce the closing of a successful transaction between American Tower and KIO, which we believe will further enhance competition in the Mexican telecommunications environment and contribute to satisfying the growing demand for high-quality bandwidth services. We look forward to continue growing the telecommunications industry in Mexico hand in hand with American Tower.”

Citigroup acted as American Tower's exclusive financial adviser and Kilpatrick Townsend & Stockton and Holland & Knight as its legal advisers.

Barclays acted as financial advisor for KIO Networks, with Santander providing valuation services. Gonzalez Calvillo S.C. acted as legal advisor.

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 149,000 communications sites. For more information about American Tower, please visit www.americantower.com.

About KIO Networks

KIO Networks is Mexico’s leading IT infrastructure service provider, offering a suite of customized services, specializing in managed IT infrastructure service solutions, colocation and cloud computing offerings. Headquartered in Mexico City, KIO’s infrastructure network comprises data centers located across technology campuses in Mexico, Central America and Spain. For more information about KIO Networks, please visit www.kionetworks.com.

American Tower | 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, the transaction’s impact on our consolidated results and the expected cash consideration for the transaction. 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, 2016 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.

KIO Networks | Note on Forward-Looking Statements

This document contains statements that are forward-looking, which are statements other than statements of historical fact and are often characterized by the use of words such as “believes”, “expects”, “estimates”, “projects”, “may”, “will”, “intends”, “plans” or “anticipates”, and similar terms and phrases or by discussions of strategy, plans or intentions, and may include reference to assumptions. Such forward-looking statements are based on current expectations and projections about future events and trends that may affect the Company’s business and are not guarantees of future performance. Investors are cautioned that any such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and other factors that are difficult to predict and could cause results to differ materially from those expressed in forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. This document includes non-IFRS, non-GAAP and non-MFRS financial measures, including Adjusted EBITDA. You should consider these measures, which we believe investors consider useful in assessing our performance and compliance with our financial covenants, together with the GAAP measures from our financial statements.

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