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- Phoenix Tower International announces strategic transaction with Cellnex to acquire 1,900 wireless sites in Ireland
BOCA RATON, Fla., March 6, 2024 /PRNewswire/ -- Phoenix Tower International (PTI) announces that it has entered into a definitive agreement with Cellnex Telecom to acquire 100% of Cellnex's business in Ireland. The transaction will expand PTI's Irish business by adding approximately 1,700 mobile telecommunications sites and approximately 200 terrestrial locations supporting third-party wireless sites.
The acquisition underlines Phoenix Tower International's commitment to fostering growth in Ireland and contributing to the improvement of the country's telecommunications infrastructure. This strategic transaction is set to bring substantial benefits to both the Irish population and mobile network operators (MNOs) operating in the region.
"We are delighted to announce this strategic transaction with Cellnex following a successful transaction in France which represents an important step forward in Phoenix Tower International's expansion in Europe," commented Dagan Kasavana, CEO of PTI. "This acquisition demonstrates our commitment to Ireland and we look forward to contributing to the development of a robust and advanced telecommunications infrastructure that will benefit both the Irish people and our valued mobile network operator partners. We appreciate the constructive approach and hard work of the team at Cellnex to sign this transaction."
The CEO of Cellnex, Marco Patuano, highlighted that "the sale of our business in Ireland - at an appropriate valuation - is one more step within the 'next chapter' of the company, in line with our strategy, to achieve the objective of consolidate, simplify our corporate structure and focus our efforts on existing growth opportunities in the main markets in which we operate. We want to recognize PTI's willingness and rapid decision making and look forward to closing the deal in due course."
Nomura is the exclusive financial advisor and Arthur Cox is the legal advisor to PTI. Barclays and Santander act as financial advisors and Matheson as legal advisor to Cellnex.
Acerca de Phoenix Tower International
PTI pro forma for this transaction and the contracted implementations, will own and operate more than 29,000 telecommunications towers throughout Europe, the United States, Latin America and the Caribbean. In Europe, PTI is present in several countries, including France, Italy, Ireland, Germany, Malta and Cyprus.
PTI was founded in 2013 with the mission to be a premier site provider for wireless operators around the world in high-growth markets. PTI's investors include funds managed by Blackstone, Wren House, USS and various members of the management team and is based in Boca Raton, Florida. For more information, visit www.phoenixintnl.com
About Cellnex Telecom
Cellnex is Europe's largest telecommunications tower and infrastructure operator, enabling operators to access an extensive network of shared-use telecommunications infrastructure, helping to reduce barriers to access and improve services in remote areas. . The company manages a portfolio of more than 138,000 sites, including deployments planned until 2030, in 12 European countries, with a significant presence in Spain, France, the United Kingdom, Italy and Poland. Cellnex is listed on the Spanish Stock Exchange and is part of the IBEX 35 and Euro Stoxx 100 indices and holds prominent positions in the main sustainability indices, including CDP, Sustainalytics, FTSE4Good, MSCI and DJSI Europe. For more information, visit www.cellnex.com
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