The transaction, executed through ATN’s Commnet Wireless subsidiary, is scheduled to begin its initial closing in the second quarter of 2026. This first phase is expected to generate between $250 million and $270 million, though $20 million to $35 million of that sum remains contingent on meeting specific post-closing conditions within the first year.
In section Market Quotes
ATN International Hits 52-Week High on $297 Million Tower Sale
ATN International shares surged 11% to a 52-week high after the company announced a deal to sell 214 towers and related operations for up to $297 million in cash. The divestiture to Everest Infrastructure Partners marks a major liquidity event for the communications firm, which has seen its stock price climb 69% over the past year.
Transaction Structure and Outlook
ATN expects the full divestiture to conclude through subsequent closings over the 12 months following the initial deal, adding an estimated $27 million to $47 million to the total. However, the company cautioned that taxes, payments to minority investors, and transaction-related expenses will consume approximately 25% to 30% of the gross proceeds.Once the portfolio sale is complete, the company projects a modest impact on its long-term top line. According to the official statement, annual revenue for ATN’s U.S. telecom segment is expected to decrease by $5 million to $7 million. Despite the projected revenue dip, investor sentiment remained bullish as shares reached $29.80 earlier in the session.
Comments (0)
No comments yet. Be the first!