Altice Europe has announced that its Altice Dominicana subsidiary has reached an agreement with Phoenix Tower International for the sale of 100% in the tower company Teletorres del Caribe, which will comprise of 1,049 sites currently operated by Altice Dominicana. The transaction values Teletorres del Caribe at an enterprise value of USD170 million.
In conjunction with the 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. The transaction is expected to close during the third quarter of 2018 and is subject to the effective de-merger and customary closing conditions.