BSV&V advises PTI on acquisition of telecom towers from WOM
Barros Silva Varela & Vigil Abogados has advised Phoenix Tower International (PTI) on its agreement with WOM for the acquisition of 3,800 telecommunications towers in Chile for approximately $930 million.
The transaction will be split into two phases: 2,334 will be transferred this year and the remaining 1,466 in 2024. With this transaction, PTI becomes the largest owner of communications towers in Chile, and expands its global presence to more than 22,000 towers in 19 countries.
The firms Greenberg Traurig, LLP, Choate Hall & Stewart, LLP and Simpson Thacher & Bartlett, LLP also advised on the transaction.
Jorge Vigil, lead partner on the transaction, commented: “This is the largest antenna transaction in Chile’s history. PTI is a world leader in this field and we believe that its participation will contribute to making the telecommunications industry more efficient in our country.”
On the financial side, an additional financing facility led by Scotiabank and complemented by PTI’s additional financing providers will cover part of the transaction. The capital for the deal was provided by several Blackstone (NYSE:BX) funds, including those managed by Blackstone’s infrastructure and tactical opportunities businesses.
BSV&V’s team was led by Jorge Vigil (pictured), with support from partner Francisco Varela and director Carolina Matthei.
