Phoenix Tower International (PTI) has reached an agreement with Uniti Group to acquire the ownership rights relating to over 500 wireless communication tower sites located across Mexico, Colombia and Nicaragua.
Speaking about the transaction (the terms of which remain confidential between the parties), PTI CEO, Dagan Kasavana, stated: "We are pleased to enter into this transaction with Uniti which further expands our growing footprint in Mexico and Colombia."
Uniti Group CEO, Kenny Gunderman, added: "This transaction realises substantial value for our stockholders and allows us to focus on the vast communications infrastructure growth opportunities in the US. Uniti Towers will continue to be a significant component of our ongoing strategy to provide a full suite of solutions to wireless carriers and other customers." Citi was exclusive financial adviser on the deal.
PTI owns and manages over 6,000 towers, 986 km of fibre and over 80,000 other wireless infrastructure and related sites throughout the USA, 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 Bolivia.