September 8, 2014 – Phoenix Tower International (“PTI”) announces the acquisition of American Tower Corporation’s Panamanian business, which consists of approximately 60 telecommunications sites. The sites represent a mix of towers in urban and suburban locations across the country occupied by all of the major Panamanian wireless carriers.
“With this latest acquisition, Phoenix Tower International further establishes itself as a premier site provider to our wireless customers across Latin America. Panama represents a vibrant wireless market with four major multinational operators and is one of the fastest-growing economies in Latin America. We are very excited about this transaction and have enjoyed transacting with American Tower Corporation,” stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International.
Financial terms of the transaction remain confidential between the parties. American Tower Corporation was advised by Intrepid Partners Limited and Kilpatrick Townsend & Stockton LLP. PTI was advised by Greenberg Traurig LLP.
About Phoenix Tower International:
Phoenix Tower International (“PTI”) owns and operates towers and other wireless infrastructure and related sites throughout Latin America. PTI’s customers include América Móvil, Telefonica, Cable & Wireless Communications and Digicel Group. PTI was founded in October 2013 with a mission to partner and transact with wireless infrastructure developers, wireless operators and real estate owners and to be a premier site provider to wireless operators across various high-growth markets internationally. PTI is currently operating in Costa Rica, Panama, Colombia and Brazil. PTI’s investors include Blackstone, through investors in its Tactical Opportunities Fund, as well as various members of the management team. PTI is based in Boca Raton, Florida. For more information about Phoenix Tower International, please visit www.phoenixintnl.com