Uniti Group Inc. and Macquarie Infrastructure Partners Complete Acquisition of Bluebird Network, LLC

Uniti Group Inc. (“Uniti” or the “Company”) (Nasdaq: UNIT) announced today the closing of its previously announced sale-leaseback and fiber acquisition with Bluebird Network, LLC (“Bluebird”) through an OpCo-PropCo partnership with Macquarie Infrastructure Partners (“MIP”). At closing, Uniti acquired approximately 178,000 fiber strand miles in the Midwest across Missouri, Kansas, Illinois, and Oklahoma.  In addition, Uniti completed the sale of its Uniti Fiber Midwest operations to MIP, while Uniti retains ownership of its existing Midwest fiber network.  Uniti is leasing the Bluebird fiber network and its Midwest fiber network, on a combined basis, to MIP under a long-term triple net lease.

Total consideration for the fiber network of Bluebird is $319 million, of which $175 million is funded by Uniti in cash and $144 million in upfront lease payments from MIP. In connection with the sale of the Company’s Midwest operations, Uniti received total additional cash consideration of approximately $37 million, including related prepaid rent.

Uniti Group Inc. announced today the closing of its previously announced sale-leaseback and fiber acquisition with Bluebird Network, LLC through an OpCo-PropCo partnership with Macquarie Infrastructure Partners. 

Source: Uniti Group media announcement