Altice Europe 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 per cent 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-in-class 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.