BOCA RATON, Fla., Feb. 15, 2019 /PRNewswire/ -- Phoenix Tower
International ("PTI") announces that it has closed its sale and
leaseback transaction with Trilogy International Partners Inc.
("Trilogy") to acquire the ownership and management rights relating
to 600 wireless communication tower sites belonging to Trilogy's
Bolivian subsidiary, NuevaTel. This latest transaction expands
PTI's footprint into a new market and reinforces PTI's position as
the leading tower company across South
America. Terms of the transaction remained confidential
between the parties.
Speaking about the transaction, PTI
CEO, Dagan Kasavana, stated: "We are pleased to transact
with Nuevatel to purchase these assets and bring the independent
tower model to Bolivia. 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."
Commenting on the agreement, Brad
Horwitz, President and CEO of Trilogy, said: "We are pleased
with this transaction which enhances our capital efficiency while
aligning with strong partners at PTI. We continue to look at
a number of strategic and operational alternatives in Bolivia and will remain opportunistic as it
relates to maximizing shareholder value."
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.
About Phoenix Tower International
Phoenix Tower International ("PTI") owns and manages over 6,000
towers, 986 km of fiber and over 80,000 other wireless
infrastructure and related sites throughout the United States, including Puerto Rico and the US Virgin Islands,
Costa Rica, Panama, El
Salvador, Guatemala,
Colombia, Peru, Mexico,
the Dominican Republic, French
West Indies, Jamaica, Argentina, Ecuador, and Argentina.
Headquartered in Boca Raton,
Florida, PTI was founded in 2013 with a mission to be a
premier site provider to wireless operators across the Americas in
high-growth markets. 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.
About Trilogy International Partners Inc. ("TIP
Inc.")
Trilogy International Partners Inc. (TSX: TRL) is the parent
company of Trilogy International Partners LLC, a wireless and fixed
broadband telecommunications operator formed by wireless industry
veterans John Stanton, Theresa Gillespie and Brad Horwitz. Trilogy's founders have an
exceptional track record of successfully buying, building,
launching and operating communication businesses in 15
international markets and the United
States.
Trilogy currently provides wireless and fixed broadband
communications services through its operating subsidiaries in
New Zealand and Bolivia. Its head office is located at 155
108th Avenue NE, Suite 400, Bellevue,
Washington, 98004 USA.
For more information, visit www.trilogy-international.com.
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SOURCE Phoenix Tower International