Boca Raton, FL, October 04, 2018 --(PR.com
)-- Phoenix Tower International (“PTI”) has closed on it’s agreement with Altice Dominicana, a subsidiary of Altice Europe N.V. (Euronext ATC, ATCB) (“Altice Europe”), to purchase 100% of the tower company, Teletorres del Caribe, with a portfolio comprising of 1,039 wireless communication tower sites for $170M. This latest transaction expands PTI’s footprint, in the Dominican Republic, to over 1,600 sites and reinforces PTI’s position as the leading tower company across the Caribbean.
In conjunction with the transaction, Altice Dominicana will enter into a 20-year master agreement with PTI setting a clear partnership framework between the two companies. PTI has committed to support Altice Dominicana in the continued deployment of its network.
About Phoenix Tower International:
Founded in 2013, Phoenix Tower International ("PTI") owns and manages over 6,000 towers, 974 km of fiber and other wireless infrastructure and related sites throughout Costa Rica, Panama, El Salvador, Colombia, Peru, Mexico, the Dominican Republic, French West Indies, Jamaica, and the United States, including Puerto Rico and the US Virgin Islands.
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.