Andean Tower Partners’s Acquisition of Torres Unidas


Guerrero Olivos, Dentons Cardenas & Cardenas, Payet, Rey, Cauvi, Pérez, Lloreda Camacho & Co, Barros & Errázuriz Abogados, Garrigues, Weil, Gotshal & Manges and Ey Law and Linklaters, advised on the deal

Andean Tower Partners (“ATP”), an owner and operator of wireless communication infrastructure in the Andean Region, today announced the acquisition of Torres Unidas (“TU”) from Berkshire Partners. This acquisition adds 1,644 sites to ATP’s portfolio of digital communication infrastructure assets, making it the largest privately-owned tower company in the Andean Region. ATP now owns over 2,150 sites, and manages more than 32,000 master leased sites and 13 small cell networks deployments. Financial terms of the private transaction were not disclosed.

Torres Unidas Chief Executive Officer Daniel Seiner will become the CEO of the combined company and Estrella Zaharia will continue with her responsibilities as Chief Marketing Officer. Founded by Digital Bridge in 2015, ATP owns, operates and manages telecommunications towers, rooftops, small cells and distributed antenna systems solutions for mobile operators.

Equity financing for the transaction was provided by ISA, The Olayan Group, Equity International, and TC Latin America Partners, who collectively committed $230 million earlier this year, and followed on with additional commitments to support the acquisition. In addition to the existing investor group, Colony NorthStar (NYSE: CLNS) also committed to the transaction in partnership with Digital Bridge Holdings.

Scotiabank was lead arranger and bookrunner for the financing and acted as ATP’s financial advisor. Linklaters LLP provided legal counsel to ATP.

Linklaters advised ATP with a team led by Alberto Luzarraga.

In Chile, Guerrero Olivos advised Andean Tower Partners S.L.U. with Roberto Guerrero (Picture), José Gabriel Undurraga, Martín Santa María, Clemente Pérez, Miguel Coddou, Macarena Ravinet, Tomás Kubick, Tomás Montes, Santiago Bustos, Martín Cox, Macarena Gaitán, Jocelyn González, Josefina Hübner, Antonia Ibarra, Alejandra Leiton, José Miguel Prieto, Matías Ríos, Magdalena Urquidi and Joaquín Valenzuela.

In Colombia, Dentons Cardenas & Cardenas advised Andean Tower Partners S.L.U. with Eduardo Cárdenas and Felipe Molano.

In Perù, Payet, Rey, Cauvi, Pérez Abogados advised Andean Tower Partners S.L.U. with Susan Castillo, Paolo Franco and Alejandro Fuller.

In Colombia, Lloreda Camacho & Co advised Andean Tower Partners S.L.U. with Carlos Carvajal and Darío Cadena.

In Chile, Barros & Errázuriz Abogados advised Berkshire Partners with Bernardo Simian, Carola Trucco, Sergio Eguiguren and Francisca Ossa.

In Perù and Colombia, Garrigues advised Berkshire Partners with Felipe Quintero, Sergio Amiel, Paola Valderrama and Alejandra De Izcue.

In US, Weil advised Berkshire Partners with Shayla Harlev, Mark Schwed, Andrew Yoon, Jeffrey D.Osterman, Michael Nissan, Annemargaret Connolly, Steven A.Tyrrell, Steven M. Margolis, Elliot Ganchrow, Thomas D. Goslin, Vadim Brusser, Jakub A. Wronski, Katherine A. Meister Ruf, Nathaniel A. Lee, Dustin Baker, Laura Christy, Joseph Reich, Michael Rivkin, Steven J. LePorin, Jennifer Yoon, Mary Lentowski, Amanda T. Rosenblum, Anne Catherine Podolsky and Eileen Citron.

In Perù Ey Law advised Berkshire Partners with Fernando Tori and Edwin Sarmiento.

Greenberg Traurig LLP provided legal counsel to the company’s management.

PPU Legal advised Scotiabank with Marcelo Armas.

Linklaters

Involved fees earner: Carlos Carvajal – Lloreda Camacho & Co.; Darío Cadena – Lloreda Camacho & Co.; Eduardo Cárdenas – Dentons – Cárdenas & Cárdenas; Felipe Molano – Dentons – Cárdenas & Cárdenas; Susan Castillo – Payet, Rey, Cauvi, Pérez, Mur; Paolo Franco – Payet, Rey, Cauvi, Pérez, Mur; Alejandro Fuller – Payet, Rey, Cauvi, Pérez, Mur; Bernardo Simian – Barros & Errázuriz Abogados; Sergio Eguiguren – Barros & Errázuriz Abogados; Francisca Ossa – Barros & Errázuriz Abogados; Carola Trucco H. – Barros & Errázuriz Abogados; Marcelo Armas Mac Donald – Philippi Prietocarrizosa Ferrero DU & Uría; Macarena Ravinet – Guerrero Olivos; Roberto Guerrero – Guerrero Olivos; Tomás Miquel Montes – Guerrero Olivos; José Gabriel Undurraga Martínez – Guerrero Olivos; Clemente Pérez – Guerrero Olivos; Santiago Bustos Plass – Guerrero Olivos; Martín Santa María – Guerrero Olivos; Miguel Coddou Astrain – Guerrero Olivos; Tomás Kubick – Guerrero Olivos; María Josefina Hübner V. – Guerrero Olivos; José Miguel Prieto Correa – Guerrero Olivos; Shayla Harlev – Weil; Jakub Wronski – Weil; Katherine Meister – Weil; Nathaniel Lee – Weil; Dustin Baker – Weil; Mark Schwed – Weil; Joseph Reich – Weil; Michael Rivkin – Weil; Andrew Yoon – Weil; Steven LePorin – Weil; Jeffrey Osterman – Weil; Jennifer Yoon – Weil; Mary Lentowski – Weil; Michael Nissan – Weil; Steven Margolis – Weil; Amanda Rosenblum – Weil; Annemargaret Connolly – Weil; Thomas Goslin – Weil; Steven Tyrrell – Weil; Eileen Hren Citron – Weil; Elliot Ganchrow – Weil; Anne Catherine Podolsky – Weil; Vadim Brusser – Weil; Felipe Quintero Serrano – Garrigues; Sergio Amiel – Garrigues; Paola Valderrama Ortiz – Garrigues; Alberto Luzarraga – Linklaters; Fernando Tori – EY Law; Edwin Sarmiento – EY Law;

Law Firms: Lloreda Camacho & Co.; Dentons – Cárdenas & Cárdenas; Payet, Rey, Cauvi, Pérez, Mur; Barros & Errázuriz Abogados; Philippi Prietocarrizosa Ferrero DU & Uría; Guerrero Olivos; Weil; Garrigues; Linklaters; EY Law;

Clients: Scotiabank; Berkshire Partners; Andean Tower Partners;

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Author: Ambrogio Visconti.