Phoenix Tower International’s $90 Million Acquisition of 451 Towers

Choate represented Phoenix Tower International and Orrick advised Digicel Group in the deal.

Phoenix Tower International (PTI), a portfolio company of Blackstone Tactical Opportunities and John Hancock, executed its cross-border acquisition of 451 wireless communication tower sites in Jamaica from the Digicel Group.

The sale and leaseback transaction, valued at $90 million, expands PTI’s footprint into a new market and reinforces PTI’s position as the leading tower company across the Caribbean.

Choate advised Phoenix Tower International with a team including Sarah N. A. Camougis (Picture), Larissa N. Cespedes-Yaffar and Parker W. Towle.

Orrick advised Digicel Group with a team including Dominic O’Brien and Adeola Adeyemi.

Involved fees earner: Sarah Camougis – Choate; Larissa Cespedes-Yaffar – Choate; Parker Towle – Choate; Dominic O’Brien – Orrick; Adeola Adeyemi – Orrick;

Law Firms: Choate; Orrick;

Clients: Phoenix Tower International LLC; Digicel Group Limited;

Author: Ambrogio Visconti