Connexa to acquire ATC New Zealand’s land portfolio

New Zealand’s largest mobile towers business, Connexa, and American Tower Corporation (NYSE: AMT) today announced that they have reached an agreement under which Connexa will acquire 100% of the shares in ATC New Zealand Limited (“ATC New Zealand”).

ATC New Zealand is a property platform owning a portfolio of 112 site interests throughout New Zealand including land under mobile towers and rooftop based mobile sites.

Connexa CEO Rob Berrill, commented on the benefits of the transaction:

"This acquisition is a significant milestone for Connexa. It allows us to expand our property footprint and enhance our ability to provide robust and reliable mobile infrastructure across New Zealand. By integrating ATC New Zealand's assets, we can better support our customers and contribute to the development of the country's digital landscape.”

The agreement is subject to consent under the Overseas Investment Act and is anticipated to close in the later part of 2024 or early 2025.