Phoenix Tower International acquires 215 wireless communication tower sites from Digicel in the French West Indies
- "PTI is enthused to continue to work closely with Digicel and was uniquely positioned to execute this transaction given our existing presence in the Dominican Republic and Puerto Rico. The French West Indies exhibit the hallmarks of a healthy wireless infrastructure market with multiple wireless operators that have significant network capex needs and a stable regulatory environment," stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International.
He added, "PTI looks forward to continuing to work with Digicel and the other operators on their network buildouts across the Caribbean where PTI is uniquely suited to make investments over the coming years. Because of our flexible investment strategy and strong operating platform, we are able to effectively partner with multinational wireless operators in a way that is truly unique. This transaction further exemplifies PTI's commitment to help our customers achieve their goals."
Commenting on the transaction, Digicel Group CEO, Colm Delves, said, "We're very pleased to be partnering with PTI on this transaction in the French West Indies, having previously done so in El Salvador. We look forward to continue building on the strong partnership already established between Digicel and PTI."
Scotiabank acted as the Administrative Agent and ING acted as the Bookrunner on the acquisition financing. Choate Hall & Stewart LLP and Dentons Europe acted as legal advisors to PTI. Orrick and Mayer Brown acted as legal advisors to Digicel.
About Phoenix Tower International
Phoenix Tower International ("PTI") owns and operates over 2,100 towers and other wireless infrastructure and related sites throughout Costa Rica, Panama, El Salvador, the Dominican Republic, French West Indies, Colombia, Peru and the United States including Puerto Rico.
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 as well as various members of the management team, and is headquartered in Boca Raton, Florida. For more information, please visit www.phoenixintnl.com.
Digicel Group is a total communications and entertainment provider with operations in 33 markets in the Caribbean, Central America and Asia Pacific. After 16 years of operation, total investment to date stands at over US$5 billion worldwide. The company is renowned for delivering best value, best service and best network.