Skadden is advising Frontier Towers Associates Philippines Inc. (“Frontier Towers”), a leading independent tower company in the Philippines owned by Pinnacle Towers, on its US$810 million (PHP45.4 billion) acquisition of telecom towers from Globe Telecom Inc. (“Globe”), a major provider of telecommunications services in the Philippines. Pinnacle is a portfolio company of KKR.
The transaction includes a sale-and-leaseback agreement to which Frontier Towers will acquire 3,529 telecom towers from Globe that will be leased back over an initial period of 15 years.
The Skadden team is led by partners Jonathan Stone (Hong Kong) and Rajeev Duggal (Singapore), with counsel Andrew Cohn (Singapore) and associate Arthur Chan (Hong Kong).
