September 8, 2014 – Phoenix Tower International has acquired American Tower Corporation’s Panamanian business, which consists of 60 telecommunications sites.
The sites represent a mix of towers in urban and suburban locations across the country occupied by all of the major Panamanian wireless carriers.
“With this latest acquisition, Phoenix Tower International further establishes itself as a premier site provider to our wireless customers across Latin America. Panama represents a vibrant wireless market with four major multinational operators and is one of the fastest-growing economies in Latin America. We are very excited about this transaction and have enjoyed transacting with American Tower Corporation,” stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International.
Financial terms of the transaction remain confidential between the parties. American Tower Corporation was advised by Intrepid Partners Limited and Kilpatrick Townsend & Stockton LLP. PTI was advised by Greenberg Traurig LLP.