Crown Castle to sell Australian unit for $2 billion-Reuters

Telecommunications tower operator Crown Castle International Corp (CCI.N) said it would sell its majority-owned Australian unit, CCAL, to a group of investors led by Macquarie Infrastructure and Real Assets for about $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.