In its latest acquisition in South America, Phoenix Tower International has executed a sale and leaseback transaction for 600 wireless towers from Nuevatel, a carrier in Bolivia. Terms of the transaction remained confidential between the parties.
“We are pleased to transact with Nuevatel to purchase these assets and bring the independent tower model to Bolivia,” PTI CEO, Dagan Kasavana, said in prepared text. “We believe our presence in the market will provide carriers with a strong neutral host solution for their growing infrastructure needs. Furthermore, the management team of Trilogy are long term wireless veterans that we are excited to partner with and support in the coming years.”
Choate Hall & Stewart LLP and Harrison & Harrison acted as legal advisors to PTI. Nuevatel was represented in the transaction by Lape Mansfield Nakasian and Gibson, LLC.
PTI also reached an agreement this week with Uniti Group to acquire the ownership rights relating to more than 500 wireless tower sites in Mexico, Colombia and Nicaragua. Terms of the transaction remain confidential between the parties. (see related story)