An Asset Sale and Purchase Agreement and a Master Lease Agreement signed by Globe Telecom, a telecom service provider based in the Philippines, will release 447 towers to a new owner. Under the terms of the agreements, Globe will cede the structures to Unity Digital Infrastructure Inc. (Unity), a joint venture between Aboitiz InfraCapital, Inc. (AIC) and Partners Group. As reported by Baguio Herald Express, the deal came with a price tag equal to $96,892,200.
“Aboitiz InfraCapital is committed to addressing the infrastructure gaps in the Philippines. Aligned with the Aboitiz Group’s goal of becoming the Philippines’ first Techglomerate,” stated Cosette Canilao, AIC President and CEO. “This partnership between Unity and Globe will allow us to support mobile network operators in enhancing connectivity across the country, bringing even more Filipinos into the digital age.”
The sale and lease back agreement will allow Unity and Globe to work together to expand digital connectivity in the Philippines. Unity’s portfolio will expand to include over 2,000 cell phone towers, which will then continue to provide digital access via telecom service provider Globe.
“We are confident that our partnership with Unity will enable us to further streamline our operations and promote technology as a tool to upgrade the standard of living across the nation but especially in Visayas and Mindanao, consistent with our vision of digital inclusivity,” Globe Telecom CEO, Ernest Cu told the Express. “Reliable infrastructure cannot be stressed enough for a digital company like Globe especially now that our deliberate shift from telco to techco is robustly underway.”
“We are proud of the continued growth of Unity and our work in partnership with Aboitiz InfraCapital. Since its formation in 2021, Unity has already built up a substantial tower and small cell pole portfolio with major telecommunications companies in the Philippines,” added Andrew Kwok, Managing Director, Co-Head Private Infrastructure Asia, Partners Group. “This is a significant step towards realizing our vision of positioning Unity as a leading telecommunications infrastructure provider that can deliver positive stakeholder impact over the long term through closing the country’s digital divide.”
The change in ownership of the 447 cell towers is expected to advance connectivity goals as the Philippines races to close gaps in its digital divide.
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