Orrick represents Digicel in Jamaica telecom tower sale
Orrick represented Digicel Group, the Caribbean region’s largest mobile operator, on its $90 million sale and leaseback transaction of 451 mobile telecommunications towers in Jamaica with Phoenix Tower International (PTI).
The sale, completed earlier this month, was made to PTI’s Jamaican subsidiary, Phoenix Tower Jamaica Limited.
PTI already owns and manages more than 6,000 communications towers, 974 km of fibre and other wireless infrastructure and related sites throughout Costa Rica, Panama, El Salvador, Colombia, Peru, Mexico, the Dominican Republic, French West Indies, Jamaica, and the United States, including Puerto Rico and the US Virgin Islands.
Digicel operates in 32 Caribbean nations.
The sale and leaseback arrangement means PTI assumes ownership and management rights of 451 of Digicel’s wireless communication tower sites in Jamaica, according to Digicel.
“This move is consistent with our stated intent to divest non-strategic assets and focus on building our business for the future,” Digicel Group CEO Alex Matuschka said.
According to PTI’s CEO Dagan Kasavana, “Jamaica is poised for significant wireless growth and data consumption in the years to come.”
Orrick’s counsel to Digicel was led by Dominic O’Brien and included Adeola Adeyemi.
