Simpson Thacher is representing Phoenix Tower International (“PTI”) in connection with its proposed acquisition of up to 3,800 telecommunications sites in Chile from WOM S.A. for total consideration of approximately $930 million. After accounting for this transaction, PTI will become the largest communications tower owner in Chile, expanding its global presence to over 22,000 towers in 19 countries. The initial closing of the transaction is expected to occur in the third quarter of 2022, subject to the satisfaction of customary closing conditions.
PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the world in high-growth markets. PTI’s investors include funds managed by Blackstone and various members of the management team.
The Simpson Thacher team includes Anthony Vernace, Michael Chao and Izaak Lustgarten (M&A); Brian Gluck and Andrea Valdes (Credit); Peter Gilman, Parker Kelsey, Linda Tieh, Benjamin Smith and Jeannette Figg (Private Funds); Benjamin Wells (Registered Funds); Jonathan Goldstein (Tax); and Peter Guryan, Rick Jamgochian and Kelly Karapetyan (Antitrust).