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.
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
Bill DiTullio, 501-850-0872
Vice President, Finance and Investor Relations
Source: Uniti Group Inc.