Davis Polk is advising Communications Sales & Leasing, Inc. in connection with its $230 million acquisition of Tower Cloud, Inc. In addition, Tower Cloud shareholders may receive additional consideration contingent upon Tower Cloud achieving certain defined operational and financial milestones. The transaction, which is subject to regulatory approvals and other customary terms and conditions, is expected to close by early fourth quarter of 2016.

CS&L is a leading strategic capital partner and REIT investment platform in the rapidly evolving communications infrastructure industry. Tower Cloud is a leading provider of data transport services, with a particular focus on providing infrastructure solutions to the wireless and enterprise sectors, including fiber-to-the-tower backhaul, small cell networks and dark fiber deployments.

The Davis Polk corporate team includes partner H. Oliver Smith and associates Evan Rosen and Brian Russell. Partner Michael Kaplan is providing capital markets advice. Partner Michael Mollerus and associate Anne E. McGinnis are providing tax advice. Partner Jeffrey P. Crandall and associate Florentino Salazar are providing executive compensation advice. All members of the Davis Polk team are based in the New York office.

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