Oi concludes sale of tower unit to Highline

31 Mar 2021

Brazilian telco Oi has finalised the sale of its tower unit to Highline do Brasil II Infraestrutura de Telecomunicacoes (Highline), thus concluding a deal that was agreed on 26 November 2020. On 30 March Highline made a cash payment worth BRL861.758 million (USD149.262 million) and received all of the shares issued by the Tower Special Purpose Entity (SPE). The remainder of the BRL1.077 billion fee will be paid ‘after ascertainment procedures and certain adjustments that are common in transactions of this nature’.

The deal represents Highline’s second major tower deal in Brazil, following its acquisition of Phoenix Tower do Brasil. That transaction saw Highline agree to acquire 2,500 tower sites from funds managed by Blackstone Tactical Opportunities (Blackstone).

TeleGeography notes that Oi concluded a separate transaction to sell its data centre unit to Titan Venture Capital e Investimentos on 15 March. That deal involved a BRL250 million takeover fee, with a further BRL75 million to be paid in instalments. As with the tower unit, Oi’s data centres only attracted one bidder.

Brazil, Highline do Brasil, Oi