Crown Castle To Explore Potential Sale Of Its Australian Subsidiary

(RTTNews) - Crown Castle International Corp. (CCI) announced that it plans to explore the potential sale of its Australian subsidiary "CCAL".

Crown Castle said that it owns 77.6% of CCAL and has an intercompany loan of approximately A$306 million due from CCAL as of December 31, 2014. CCAL is expected to contribute about 4% to 5% to the midpoint of Crown Castle's previously provided full year 2015 Outlook for Adjusted EBITDA of US$2.15 billion and AFFO of US$1.46 billion. Crown Castle's full year 2015 Outlook was previously provided on January 21, 2015 and assumed an exchange rate of 0.81 US Dollars to 1.0 Australian Dollar.

There can be no assurance that the exploration of a potential sale will result in the consummation of any specific action. Crown Castle does not intend to discuss developments with respect to the exploration of a sale unless or until its Board of Directors reviews and approves a specific action or otherwise deems further disclosure is appropriate or required.