SBA Communications to Form Long-Term Partnership With Millicom in Central America

Paul, Weiss is advising SBA Communications Corporation, a leading independent owner and operator of wireless communications infrastructure, in an approximately $975 million transaction under which Millicom International Cellular S.A. will sell to SBA and lease back a portfolio of approximately 7,000 towers across Central America. Additionally, the companies will enter into a build-to-suit agreement under which SBA will build up to 2,500 additional sites to further solidify the partnership. The deal is expected to close in mid-2025, subject to customary closing conditions and regulatory approvals.

The Paul, Weiss team is led by partners Michael Vogel and Salvatore Gogliormella and includes corporate partners Maria-Leticia Ossa-Daza, Robert Zochowski, David Harris and Matthew Benedetto; tax partner Brian Krause and counsel Christina Cerrito; litigation partner Mark Mendelsohn and counsel Benjamin Klein; executive compensation counsel Bruce Goldberger and Sasha Belinkie; environmental counsel William O'Brien; intellectual property counsel Brianna van Kan; and real estate counsel Ruobing Chen.