HOUSTON-Crown Castle International Corp. said it expects to complete the previously announced sale of its U.K. subsidiary Aug. 31.
Crown said in June it would sell the division to U.K. utility company National Grid Transco plc for $2.035 billion in cash to strengthen its focus on the bigger and faster growing U.S. market. It plans to use proceeds to repay debt.
Following the sale, Crown will own, operate and manage 11,900 wireless communications sites in the United States and Australia.
