MasTec Announces Significant Revision and Enhancement to Nsoro Acquisition

MasTec, Inc. MTZ today announced that it has signed an amendment which significantly improves the Company's economics in the earn-out associated with the Nsoro acquisition, MasTec's wireless infrastructure construction and maintenance subsidiary. Under the revised terms, MasTec will pay and deliver to the seller a one-time $40,000,000 cash payment plus 1,875,000 shares of MasTec common stock, which will be restricted for one year. Future annual earn-out payments for the five years beginning in 2011 will be reduced to 27.5% of domestic earnings before tax in excess of $40,000,000 and the earn-out payment for the seven month period ending July 31, 2016, reduced to 27.5% of EBT in excess of $23.3 million.