Vouga Abogados and Jones Day have advised on the deal
Millicom International Cellular S.A. (“Millicom”) announced today that its subsidiary Telefonica Celular del Paraguay S.A. (“Tigo Paraguay”) has agreed to sell approximately 1,400 wireless communications towers to a subsidiary of American Tower Corporation (“ATC”) in Paraguay. As a result of the transaction, Tigo Paraguay will receive approximately Gs700 billion, equivalent to US$125 million, in cash.
Additionally, Tigo Paraguay and ATC have entered into a long term local currency leasing agreement whereby ATC will provide Tigo Paraguay with wireless communications towers to support Tigo Paraguay’s wireless networks and rollout plans. The transaction is expected to create savings in both capital and operating expenditures for Tigo Paraguay. The specific number of towers and final purchase price will be determined once the various closings have taken place, which are subject to customary closing conditions.
Vouga Abogados has advised Telefónica Celular del Paraguay S.A. and Millicom International Cellular S.A. with Rodolfo G. Vouga, Perla Alderete, Marta Martínez and Andrés Vera.
Jones Day has advised Telefónica Celular del Paraguay S.A. and Millicom International Cellular S.A. with Nicholas E. Rodríguez (Picture), Stephen W. Angus, Rémy Fekete, Luis A. Vélez, Marta Lahuerta Escolano, Stephen P. Parrinello, Fradyn Suárez, Enrique J. Martín, Jessica Mendoza and Isel M. Pérez.
Involved fees earner: Rodolfo Vouga – Vouga Abogados; Perla Alderete – Vouga Abogados; Marta Martínez – Vouga Abogados; Andrés Vera – Vouga Abogados; Nicholas Rodríguez – Jones Day; Luis Velez – Jones Day; Enrique Martin – Jones Day; Jessica Mendoza – Jones Day; Isel Perez – Jones Day; S. Wade Angus – Jones Day; Rémy Fekete – Jones Day; Marta Lahuerta Escolano – Jones Day; Stephen Parrinello – Jones Day; Fradyn Suárez – Jones Day; Luca Saraceni – Pedersoli & Associati;