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CORRECTED-Crown Castle to sell Australian unit for A$2 bln
May 14, 2015 / 12:21 PM / 3 years ago

CORRECTED-Crown Castle to sell Australian unit for A$2 bln

(Corrects headline and lead to say deal value is in Australian dollars, not U.S. dollars)

May 14 (Reuters) - Telecommunications tower operator Crown Castle International Corp said it would sell its majority-owned Australian unit, CCAL, to a group of investors led by Macquarie Infrastructure and Real Assets for about A$2 billion in cash.

Crown Castle, which owns 77.6 percent of the unit, expects to receive net proceeds of about $1.3 billion after accounting for debt and expenses. (Reporting by Supantha Mukherjee in Bengaluru; Editing by Saumyadeb Chakrabarty)

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