SBA to buy TowerCo assets for $193.5M

SBA Communications agreed to buy up to 430 wireless towers from TowerCo for $193.5 million in a deal that is expected to close by the end of May. The companies have yet to work out the specific number of towers that SBA will buy from TowerCo. SBA plans to fund the acquisition with cash on hand and withdrawal from its $335 million senior credit facility. The towers are located nationwide. Each tower serves an average 1.5 mobile carriers.

For more on the deal:
- read this article from South Florida Business Journal