Blackstone portfolio company PTI acquires T4U Holding Brasil

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Blackstone portfolio company PTI acquires T4U Holding Brasil

Phoenix Tower International (PTI), owned by funds managed by Blackstone's Tactical Opportunities business, has acquired T4U Holding Brasil, S.A. (T4U).

The acquisition is to be structured as a merger of T4U into PTI's existing Brazilian tower business. Terms of the transaction were not disclosed.

The combined businesses will operate under the name Phoenix Tower do Brasil, which will own and operate 529 wireless infrastructure assets with a pipeline of over 250 wireless towers under construction for all of the major wireless operators in Brazil.

Jasvinder Khaira, a Managing Director in Blackstone's Tactical Opportunities business, stated:

"We are thrilled to announce this investment in Brazil, a market where we see considerable growth in the wireless market and where we hope to explore further investment activity more broadly. We believe the combination of PTI and T4U's experienced teams create a strong foundation from which to build upon T4U's existing portfolio of assets and pursue additional growth opportunities in the sector."

Dagan Kasavana, Chief Executive Officer of Phoenix Tower International, commented:

"We feel that the merged business offers our wireless customers a significant footprint of high quality tower assets in major urban locations across Brazil as well as a strong combined team of experienced tower professionals focused on leasing, operating and building towers to meet our customer's network demands now and in the future."

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