American Tower Corporation has acquired 3,242 telecom towers pertaining to Grupo Entel, the largest telecommunications company in Chile. The $772m deal was signed on December 19th, which established the first closing date, amounts to 65% of the towers in Chile and 85% in Peru.
American Tower Corporation, a holding company operating as a real estate investment trust, owns, operates and develops multitenant communications real estate.
DLA Piper Peru, DLA Piper Chile and Asset Chile advised American Tower Corporation, while Estudio Rodrigo, Elias Medrano and Claro & Cía acted for Grupo Entel in Perú and Chile respectively.
The DLA Peru team was led by partner Luis Vargas, assisted by associates Jorge Collantes, Roberto Berendson and Maria José Salazar, while the DLA Chile team was made up of partner Marco Salgado, of counsel Teresa Fernández, senior associate Diego Peña and associate Ignacio Quezada.