Phoenix Tower International, supported by Blackstone, signs an agreement with eir to acquire and operate telecommunications towers throughout Ireland

26 May 2020

Phoenix Tower International ("Phoenix")  announced the signing of an agreement with eir confirming the purchase of more than 650 wireless pylons as well as the acquisition of new wireless pylons for 8 years across Ireland as part of a custom construction program. With this transaction, Phoenix becomes the largest supplier of pylon infrastructure in Ireland, thereby substantially strengthening its growing footprint in Europe and consolidating its leading position in Europe, the United States, Latin America and the Caribbean. The closing of the agreement is subject to the usual prerequisites related to this type of transaction. Phoenix and eir have entered into a long-term partnership stipulating that the company eir will occupy the sites concerned for at least twenty years.

“We are delighted to be entering the Irish wireless infrastructure market and to partner with eir on a transaction of this magnitude. The global COVID-19 pandemic has had an impact on all communities, highlighting the importance of wireless infrastructure in global commerce, business and social connections - a fact that will not change not when economies recover in the months and years to come, ”said Dagan Kasavana, President and CEO of Phoenix Tower International.

"Ireland represents an important economic pole for Europe and the world, and we are proud to support eir in the framework of its ongoing construction projects in the country. This transaction allows PTI to further strengthen its global footprint, and we are very pleased to be a long-term partner of eir, "said Tim Culver , executive president of Phoenix Tower International.

“We are very excited to partner with eir to provide improved wireless connectivity to its customers. This transaction is a good illustration of Phoenix’s strategy to access growing markets as a partner to leading mobile operators, "said Jasvinder Khaira , one of the senior directors of Blackstone Tactical Opportunities. "Phoenix is committed to growing in Europe as well as finding  opportunities to support operators and support 5G technology revolution. "

About Phoenix Tower International

Phoenix Tower International (“Phoenix”) owns, operates and will own, according to the pro forma documents for this transaction, more than 9,000 pylons, 986 km of fiber and more than 80,000 other wireless infrastructure and related sites in the United States, Argentina, Bolivia, Colombia, Costa Rica , Dominican Republic, Ecuador, El Salvador , France , Guatemala , Ireland, Jamaica, Mexico, Panama and Peru. Phoenix was founded in 2013 with the objective of being the leading provider of sites to wireless operators on the American continent in high-growth markets. Investors in Phoenix include funds managed by Blackstone Tactical Opportunities and John Hancock , as well as various members of the management team. For more information, visit www.phoenixintnl.com . PTI was advised on legal matters by Freshfields Bruckhaus Deringer and Arthur Cox .

About eir

eir is the largest provider of fixed telecommunications services in Ireland, providing broadband, voice, television and data services to the residential, small business, corporate and government sectors.

eir is Ireland's third largest mobile operator in terms of revenue and customers. The company manages eir mobile and GoMo services.

Eir's wholesale division, open eir, represents Ireland's largest wholesale telecommunications operator and provides products and services to national and international wholesale customers in a variety of regulated and unregulated markets.

The group generated total revenue of € 1.249 billion and adjusted EBITDA of € 578 million for the year ended June 30, 2019.

 

Source: prnewswire.com