Altice Europe has announced that its subsidiary Altice Dominicana has reached an agreement with Phoenix Tower International 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-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.