Terra received approval to seek funding to buy out minority shareholders Minority shareholders are Peppertree Capital Management, Inc. Separately, Terra and Terra TBS also owned the majority of shares in Continental Towers, a towerco owning towers in Central America, Peru, and Columbia. (DTH) filed a lawsuit against American Tower International (ATI) in Miami-Dade County Circuit Court on December 12, 2022, alleging ATI breached a $794 million acquisition and development deal in Latin America known as Project Codu, referring to “Center of da Universe” because of its size and shape.Īccording to the complaint, DTH and ATI began negotiations to establish a joint venture in Peru with site development (SDA) and master infrastructure (MUA) agreements, providing DTH’s subsidiary, DTP, funding to construct and deploy sites in Lima. Terra Towers Corporation (Terra), TBS Management, S.A.
DT is suing for an amount in excess of $750 million. However, the ready-to-be-inked agreement collapsed at the last minute, and plaintiffs are accusing American Tower International of breach of agreement. NO LONGER CELEBRATING – In October 2018, as shown in this lawsuit exhibit, Project Codu’s celebratory whiteboard was signed by American Tower Corporation’s Michael Hart, Vice President of Mergers and Acquisitions, and Jorge Hernandez on behalf of DT Holdings, Inc., setting the terms of an $800 million deal.
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