BOCA RATON, Fla., Feb. 19, 2019 /PRNewswire/ -- Phoenix Tower International ("PTI") announces that it has reached an agreement with Uniti Group to acquire the ownership rights relating to over 500 wireless communication tower sites located across Mexico, Colombia and Nicaragua. Terms of the transaction remain confidential between the parties.
Speaking about the transaction, PTI CEO, Dagan Kasavana, stated; "We are pleased to enter into this transaction with Uniti which further expands our growing footprint in Mexico and Colombia".
Commenting on the transaction, Uniti Group CEO, Kenny Gunderman, stated "This transaction realizes substantial value for our stockholders and allows us to focus on the vast communications infrastructure growth opportunities in the U.S., Uniti Towers will continue to be a significant component of our ongoing strategy to provide a full suite of solutions to wireless carriers and other customers."
Citi was exclusive financial adviser on the deal.
About Phoenix Tower International
Phoenix Tower International ("PTI") owns and manages over 6,000 towers, 986 km of fiber and over 80,000 other wireless infrastructure and related sites throughout the United States, including Puerto Rico and the US Virgin Islands, Costa Rica, Panama, El Salvador, Guatemala, Colombia, Peru, Mexico, the Dominican Republic, French West Indies, Jamaica, Argentina, Ecuador, and Bolivia.
Headquartered in Boca Raton, Florida, PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the Americas in high-growth markets. PTI's investors include funds managed by Blackstone Tactical Opportunities and John Hancock, as well as various members of the management team. For more information, please visit www.phoenixintnl.com.
SOURCE Phoenix Tower International