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American Tower completes $1.85B Eaton Towers acquisition

American Tower Corp. completed its roughly $1.85 billion acquisition of London-based Eaton Towers Holdings Ltd., including the assumption of existing Eaton Towers debt.

The deal adds roughly 5,700 communications sites to the communications-focused real estate investment trust's African portfolio.

The REIT also agreed to buy South African mobile telecommunication company MTN Group Ltd.'s minority interests in its joint ventures in Ghana and Uganda for about $523 million, with closing expected in the first quarter of 2020.

The deal will lead to a one-time impact for the REIT of about $65 million in 2020 from the payment of previously deferred cash interest related to joint venture debt.