American Tower Corporation (ATC) has acquired Essar Telecom Infrastructure Private Limited (ETIPL) wholly, with a 100 percent equity acquisition, amounting to Rs. 2,100 crore ($450 million). The transaction represents the third tower acquisition in India by a member of the American Tower group, since initiating operations in India in the fourth quarter of 2008.

AZB & Partners advised American Tower Corporation. Partner Percival Billimoria led the team along with Senior Associates Debashish Sankhari; Namrata Vishwanath and Associate Niren Patel.

J. Sagar Associates advised ETIPL with Partners Vikram Raghani and Jay Gandhi taking lead.

ATC is a leading independent owner, operator and developer of broadcast and wireless communications sites and currently owns and operates over 32,000 communications sites in the United States, Mexico, Brazil, Chile and India.ETIPL has a portfolio of 4,630 wireless communications tower sites, including a number of towers under construction. It has operations across 14 of the 23 telecom circles in India.

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