BOCA RATON, Fla., April 6, 2017 /PRNewswire/ -- Phoenix Tower International ("PTI") via its subsidiary Phoenix Tower International ES S.A. de C.V. announces that it has closed its transaction with Digicel S.A. de C.V. ("Digicel") to acquire the ownership or management rights relating to 202 wireless communication tower sites from Digicel. Terms of the transaction remain confidential between the parties.
"PTI is excited to partner with Digicel, our existing customer in Panama and now in El Salvador through this latest transaction. El Salvador, with its active four carrier market, represents a logical expansion of PTI's operations across Central America. Furthermore, as we are already a leading infrastructure provider for the major carriers operating in El Salvador in other markets we do business in, this transaction will allow us to continue to support their needs in a new market, furthering our relationships. Lastly, through this transaction we have worked closely with the principals at Digicel and look forward to a long term relationship where we can continue to help them grow their great business," stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International.
Commenting on the transaction, Digicel Group CEO, Colm Delves, said; "We look forward to partnering with PTI in El Salvador. This transaction allows us to monetize non-core assets and reinvest in our business to drive our competitive edge as we build our business for the future."
Scotiabank arranged financing for the transaction and acted as Phoenix's sole financial advisor for the acquisition. Choate Hall & Stewart LLP and Nassar Abogados acted as legal advisors to PTI. Orrick acted as legal advisor to Digicel.
About Phoenix Tower International
Phoenix Tower International ("PTI") owns and operates over 1,400 towers and other wireless infrastructure and related sites throughout Latin America, the Caribbean and the United States. PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the Americas high-growth markets. Phoenix Tower International currently owns and operates wireless infrastructure in Costa Rica, Panama, El Salvador, the Dominican Republic, Colombia, Peru and the United States including Puerto Rico. PTI's investors include funds managed by Blackstone Tactical Opportunities as well as various members of the management team, and is headquartered in Boca Raton, Florida. For more information, please visit www.phoenixintnl.com.
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SOURCE Phoenix Tower International