ATN International Advances Strategic Priorities With Sale of U.S. Tower Portfolio

Core Viewpoint - ATN International, Inc. announced the divestiture of its Tower Portfolio, consisting of 214 towers in the Southwestern U.S., to Everest Infrastructure Partners for up to $297 million in cash, aimed at enhancing financial flexibility and long-term value creation for shareholders [1][3]. Financial Details - The transaction is expected to generate gross proceeds of approximately $250 to $270 million at the initial closing, with an additional $27 to $47 million anticipated from subsequent closings based on operational milestones [3][4]. - Estimated taxes, payments to minority investors, and transaction-related expenses are projected to total approximately 25% to 30% of the gross proceeds [2]. Impact on Financials - Upon full completion of the transaction, the estimated twelve-month impact on consolidated revenue, operating income, and EBITDA is expected to be reductions of approximately $5 to $7 million, $4 to $6 million, and $10 to $13 million, respectively [4][14][15]. Strategic Objectives - The company aims to utilize the proceeds from the transaction to reduce debt, invest in existing operations, and pursue select growth opportunities, reinforcing its commitment to sustainable, long-term value creation [3][4]. Company Background - ATN International, Inc. is a provider of digital infrastructure and communications services, focusing on rural and remote markets, and operates both in the U.S. and internationally [8][9]. - Everest Infrastructure Partners is recognized as one of the largest and fastest-growing wireless tower companies, with significant capital commitments since its inception in 2015 [7].