Divestiture of Corr Wireless Tower Assets

Client:
Corr Wireless Communications, LLC (Corr) is a leading regional provider of wireless communications services including wireless phone and Internet services. Corr’s popular "Home Free" program provides subscribers with unlimited usage throughout the served markets in central and north Alabama.

Buyer:
Lattice Communications, LLC (Lattice), a leading provider of communications tower sites for various wireless service operators such as PCS companies, cellular telephone, paging, wireless Internet, radio stations, etc. Lattice owned and operated over 400 towers in 16 states at the time of the transaction.

Transactions:

Corr divested 30 towers to Lattice. Corr managed to free fixed assets while outsourcing the infrastructure from Lattice.
The companies also entered into a build-to-suite contract that included the provision for the construction of up to 30 additional towers over a three-year period.

CEA's Role:

Prepared marketing materials
Valued assets
Searched for potential acquirers
Defined deal structure including built-to-suit contract
Assisted Corr Wireless in the negotiations process

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