SBA Communications (SBAC -0.86%) has commenced operations in Brazil by buying 800 towers, the company announced in an official press release. The mobile telecom infrastructure firm paid 362.8 million reals ($174 million) for its new assets from what it termed "one of the leading broadband wireless carriers" in the country. The Wall Street Journal named the seller as Vivo, a subsidiary of Telefonica Brasil (VIV).
SBA said that the towers will bring in roughly 19 million to 23 million reals ($9 million-$11 million) in tower cash flow for calendar 2013, and "be immediately accretive to [adjusted funds from operations] per share."
The company funded its acquisition from cash and a revolving credit facility.
