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Uniti Group Inc. Completes Sale of U.S. Tower Business
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LITTLE ROCK, Ark., June 02, 2020 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) announced today that it has completed the sale of 90% of its U.S. tower business to Melody Investment Advisors LP (“Melody”) for total cash consideration of approximately $220 million. Uniti retains a 10% investment interest in the tower business through an affiliate of Melody.
Goldman Sachs & Co. LLC served as exclusive financial advisor to Uniti in connection with this transaction.
ABOUT UNITI
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of March 31, 2020, Uniti owns 6.3 million fiber strand miles and other communications real estate throughout the United States. Additional information about Uniti can be found on its website at www.uniti.com.
INVESTOR AND MEDIA CONTACTS:
Mark A. Wallace, 501-850-0866 Executive Vice President, Chief Financial Officer & Treasurer mark.wallace@uniti.com
Bill DiTullio, 501-850-0872 Vice President, Finance and Investor Relations bill.ditullio@uniti.com
cs&l (nasdaq: csal), an s&p 400 midcap index company headquartered in little rock, ark., is a publicly traded real estate investment trust primarily engaged in the acquisition of communication distribution systems. cs&l currently owns 3.6 million strand miles of fiber, 235,000 route miles of copper and central office land and buildings across 29 states. as a strategic financing partner to the telecommunications industry, cs&l continually evaluates challenges and trends impacting the industry, and opportunities to grow and diversify its portfolio by acquiring additional communication distribution systems. as a real estate investment trust (reit), cs&l intends to grow and diversify its portfolio over time, primarily in three ways: 1. acquiring and leasing communications assets that qualify as real property. 2. financing fiber for existing and new customers. 3. acting as financing partner to facilitate m&a. cs&l also expects to benefit from rent escalations related to our existin
