LeBlanc & Royle Sells Lodestar Towers

Oakville, Ontario-based LeBlanc & Royle Enterprises (LeBlanc), which provides products and services to the broadcast and telecommunications industries worldwide, announced on May 18, 2000 that it had completed the sale of its US business, Lodestar Towers, to North Carolina-based SpectraSite Communications Inc., a leading provider of outsourced antennae site and network services to the wireless and broadcast industries. The transaction is valued at approximately US$170 million.

Representing LeBlanc on the transaction were Thomas Byrne of Byrne, Crosby in Toronto and a team from the Toronto office of Torys that included Brian Flood, Michael Amm and John Unger in Toronto and Richard Willoughby, Kim Blanchard and Charles Hughes in New York. Paul, Weiss, Rifkind, Wharton & Garrison of New York acted for SpectraSite with a team that included Bruce Gutenplan, Tarun Stewart, Auria Styles, and Elizabeth Moody.