Phoenix Tower International says it closed its sale and leaseback transaction with Digicel to acquire the ownership or management rights relating to 451 wireless communication tower sites for US$90M. Additional terms of the transaction remained confidential between the parties. The company owns and manages over 6,000 towers throughout Costa Rica, Panama, El Salvador, Colombia, Peru, Mexico, the Dominican Republic, French West Indies, Jamaica, and the United States, including Puerto Rico and U.S. Virgin Islands.
“This latest transaction between PTI and Digicel deepens our excellent working relationship and strengthens PTI’s position as the premier wireless infrastructure provider in the Caribbean,” PTI CEO, Dagan Kasavana, said. “Jamaica is poised for significant wireless growth and data consumption in the years to come and PTI looks forward to helping our Jamaican customers, landlords, and communities we operate in meet these growing demands successfully.”
Commenting on the agreement, Digicel Group CEO, Alex Matuschka, said; “With similar agreements with PTI for sites in El Salvador and the French West Indies, this was the next natural step and we are delighted to be extending our partnership. This move is consistent with our stated intent to divest non-strategic assets and focus on building our business for the future.”
October 2, 2018