Phoenix Tower International to acquire up to 3,800 towers from WOM in Chile

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Phoenix Tower International (PTI), through its local Chilean subsidiary, Phoenix Tower International Chile SpA, has signed a definitive agreement with WOM S.A. to acquire up to 3,800 telecommunications sites in Chile.

As part of the transaction, PTI will acquire approximately 2,334 tower sites at the initial closing and 1,466 additional sites by 2024 for a total consideration of approximately US$930 million, a portion of which will be paid upon transfer of the additional sites.

The transaction will be funded in part by a financing facility led by Scotiabank and supplemented by PTI’s additional finance providers (affiliates of Caisse de dépôt et placement du Québec and Ares Management Corporation). The equity for the transaction was provided by various Blackstone funds, including those managed by Blackstone’s infrastructure and tactical opportunities businesses.

Greenberg Traurig, LLP, Simpson Thacher & Bartlett, LLP, Choate Hall & Stewart, LLP and Barros Silva Varela & Vigil Abogados Limitada acted as legal advisors to PTI. Scotiabank acted as sole lead arranger, bookrunner and exclusive financial advisor to PTI. Allen & Overy and Albagli Zaliasnik acted as legal advisors to WOM. Citi acted as an exclusive financial advisor to WOM.

Share this update