BOCA RATON, Fla., Feb. 15, 2019 /PRNewswire/ -- Phoenix Tower International ("PTI") announces that it has closed its sale and leaseback transaction with Trilogy International Partners Inc. ("Trilogy") to acquire the ownership and management rights relating to 600 wireless communication tower sites belonging to Trilogy's Bolivian subsidiary, NuevaTel. This latest transaction expands PTI's footprint into a new market and reinforces PTI's position as the leading tower company across South America. Terms of the transaction remained confidential between the parties.
Speaking about the transaction, PTI CEO, Dagan Kasavana, stated: "We are pleased to transact with Nuevatel to purchase these assets and bring the independent tower model to Bolivia. We believe our presence in the market will provide carriers with a strong neutral host solution for their growing infrastructure needs. Furthermore, the management team of Trilogy are long term wireless veterans that we are excited to partner with and support in the coming years."
Commenting on the agreement, Brad Horwitz, President and CEO of Trilogy, said: "We are pleased with this transaction which enhances our capital efficiency while aligning with strong partners at PTI. We continue to look at a number of strategic and operational alternatives in Bolivia and will remain opportunistic as it relates to maximizing shareholder value."
Choate Hall & Stewart LLP and Harrison & Harrison acted as legal advisors to PTI. Nuevatel was represented in the transaction by Lape Mansfield Nakasian and Gibson, LLC.
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 Argentina.
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.
About Trilogy International Partners Inc. ("TIP Inc.")
Trilogy International Partners Inc. (TSX: TRL) is the parent company of Trilogy International Partners LLC, a wireless and fixed broadband telecommunications operator formed by wireless industry veterans John Stanton, Theresa Gillespie and Brad Horwitz. Trilogy's founders have an exceptional track record of successfully buying, building, launching and operating communication businesses in 15 international markets and the United States.
Trilogy currently provides wireless and fixed broadband communications services through its operating subsidiaries in New Zealand and Bolivia. Its head office is located at 155 108th Avenue NE, Suite 400, Bellevue, Washington, 98004 USA.
For more information, visit www.trilogy-international.com.
SOURCE Phoenix Tower International