September 29, 2016 / 7:22 PM / a year ago

BRIEF-Spain's Cellnex says buys Shere Group for 393 million euros

Sept 29 (Reuters) - Cellnex Telecom Sa :

* Says signs deal with Arcus Infrastructure Partners to buy 100 percent of Shere group, owner of communications towers and wireless sites, for 393 million euros ($440.67 million)

* Says Shere Group manages 1,004 telecom tower sites, 464 of the in the Netherlands and 540 in the UK, which will contribute expected revenues of about 29 million euros ($32.52 million) on a full year basis

* Says the transaction will be financed through available cash Further company coverage: ($1 = 0.8918 euros) (Reporting by Madrid Newsroom)

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