October, 3rd, 2018
BOCA RATON, Fla. — Phoenix Tower International (“PTI”) has closed on it’s agreement with Altice Dominicana, a subsidiary of Altice Europe N.V. (Euronext ATC, ATCB) (“Altice Europe”), to purchase 100% of the tower company, Teletorres del Caribe, with a portfolio comprising of 1,039 wireless communication tower sites for $170M. This latest transaction expands PTI’s footprint, in the Dominican Republic, to over 1,600 sites and reinforces PTI’s position as the leading tower company across the Caribbean.
In conjunction with the transaction, Altice Dominicana will enter into a 20-year master agreement with PTI setting a clear partnership framework between the two companies. PTI has committed to support Altice Dominicana in the continued deployment of its network.
“PTI has experienced significant growth, through lease-up and new tower construction, on its existing tower assets, in the Dominican Republic, and has built a best-in-class operating team based locally in Santo Domingo,” stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International. Adding, “With a growing economy and telecommunications sector, the Dominican Republic represents a fantastic market in which to do business. We are incredibly excited to extend our partnership with Altice through this tower transaction and continue our growth across the Caribbean and Latin America.”
BNP Paribas and Goldman Sachs acted as financial advisors to Altice Europe. Franklin and OMG acted as legal advisor to Altice Europe.
Choate, Hall & Stewart LLP and OGC Abogados acted as legal counsel for Phoenix Tower International. Scotiabank acted as sole financial advisor to Phoenix Tower International.
About Phoenix Tower International:
PTI owns and operates more than 3,500 sites (including sites under contract), over 2,500 managed sites under marketing rights agreement and 974 km of fiber and other wireless infrastructure and related sites throughout Argentina, Colombia, Costa Rica, Dominican Republic, El Salvador, French West Indies, Mexico, Panama, Peru and the United States, including Puerto Rico and the US Virgin Islands. Further information is available at www.phoenixintnl.com.
Contact Information
Phoenix Tower International:
Cat Drettmann
+1-561-227-9649
cdrettmann@phoenixintnl.com
