Altice Europe N.V. has announced that its subsidiary Altice Dominicana has reached an agreement with Phoenix Tower International, a portfolio company of Blackstone, for the sale of 100% in the tower company Teletorres del Caribe that will comprise 1,049 sites currently operated by Altice Dominicana.
The transaction values Teletorres del Caribe at an enterprise value of $170 million. In conjunction with the contemplated transaction, Altice Dominicana will enter into a 20-year master agreement with Teletorres del Caribe, setting a clear partnership framework between
the two companies.
Teletorres del Caribe has committed to support Altice Dominicana in the continued deployment of its network. Altice Dominicana will pursue its long-term industrial project and continue providing best-inclass telecommunication services to its subscribers, as part of the Altice Group. The transaction is expected to close during Q3 2018 and is subject to the effective de-merger and customary closing conditions.
BNP Paribas and Goldman Sachs acted as financial advisors to Altice Europe. Franklin and OMG acted as legal advisor to Altice Europe.
Choate, Hall & Stewart LLP and OGC Abogados acted as legal counsel for Phoenix Tower International. Scotiabank acted as sole financial advisor to Phoenix Tower International.
Altice Europe (ATC & ATCB), listed on Euronext Amsterdam, is a convergent leader in telecoms, content, media, entertainment and advertising. Altice delivers innovative, customer centric products and solutions that connect and unlock the limitless potential of its over 30 million customers over fiber networks and mobile broadband.
Altice is also a provider of enterprise digital solutions to millions of business customers. The company innovates with technology, research and development and enables people to live out their passions by providing original content, high-quality and compelling TV shows, and international, national and local news channels. Altice delivers live broadcast premium sports events and enables its
customers to enjoy the most well-known media and entertainment.