STXNEWS LATAM-GP Investments to buy 2,000 Brazil cell towers for $250 mln-filing

Thu Sep 27, 2012 6:23pm EDT

GP Investments, the largest Latin American private-equity firm, agreed to buy on Thursday 2,000 cell towers from an unnamed Brazilian wireless phone carrier for about 503 million reais ($250 million). Part of the money for the acquisition will come from GP Investment's GP Capital Partners V, with a firm commitment between $90 million and $164 million.

The transaction will allow GP to create Brazil's largest operator of cell towers - where antennas and electronic communications equipment are placed, the firm said in a securities filing.

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