American Tower (AMT) earlier this week continued with its aggressive overseas expansion plans by announcing the purchase of about 20,000 cell towers in India from Vodafone India Limited (VOD) and Idea Cellular Limited (IDEA NS) for $1.2 billion.

According to their press release, Management expects that this acquisition will produce an incremental $320 million in property revenue and $120 million in gross income, which works out to a gross margin of $37.5%. Forecasted sales, general and administrative (SG&A) expenses for the purchase are expected to amount to $10 million per year. As such, management has stated the acquisition will be immediately accretive to adjusted fees from operations (AFFO). The deal is expected to close in the first half of fiscal 2018, pending regulatory approval.

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