Millicom entered into an agreement with SBA Communications to sell and leaseback a tower portfolio of approximately 7,000 towers in Guatemala, Honduras, Panama, El Salvador and Nicaragua for a total consideration of approximately $975 million, plus an earn-out contingent on achieving certain financial performance metrics.
In addition, the parties have agreed to enter into a build-to-suit agreement under which SBA Communications will build up to 2,500 additional sites, further solidifying the partnership.
