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