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Crown Castle buys Tower Development Corp for $461 million


Telecom building user Crown Castle International Corp (CCI.N) pronounced it bought Berkshire Partners-owned Tower Development Corp for $461 million in cash.

The understanding would immediately supplement to Crown Castle’s practiced supports from operations per share and minister about $25 to $27 million to site let sum domain in a initial full year of company’s ownership, Crown Castle pronounced on Friday.

Tower Development Corp owns and operates 336 towers in a United States and Puerto Rico.

(Reporting by Rishika Sadam in Bengaluru; Editing by Don Sebastian)

Article source: http://www.reuters.com/article/us-towerdevelopmentcorp-m-a-crown-castle-idUSKCN0X52GQ

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