11/08/2011, GTP
GTP now Largest Tower Owner in Costa Rica
BOCA RATON, - FL November 7, 2011 - Global Tower Partners (GTP), via its subsidiary GTP Costa Rica Holding CR, SRL and C.R. Transmission Holding Corp., consummated the closing on November 2 under a Stock Purchase Agreement between the parties to purchase Centennial Towers CR, SRL, which includes over 250 towers currently constructed and occupied by the major wireless telecommunications operators in Costa Rica as well as a significant pipeline of additional towers in various stages of permitting and construction still to be developed.
"This transaction represents a strategic decision by GTP to invest in the Costa Rican tower sector and establish ourselves as the largest provider of tower sites in Costa Rica," said Marc C. Ganzi, Chief Executive Officer, Global Tower Partners. "Costa Rica's wireless spectrum is dominated by investment grade wireless carriers who are deploying and will continue to deploy significant capex over the coming years as Costa Rica implements the privatization of its wireless spectrum."
"GTP is very excited to be part of this vibrant wireless market," said Jose Sola, Senior Vice President, Corporate Development for Latin America. "The founders of Centennial have an excellent reputation in Costa Rica and the region for developing towers. We look forward to furthering this reputation over the coming years with our wireless customers and business partners."
"We went through a lengthy process to find the right acquirer of this business both to maximize shareholder value and continue growing the business professionally with the major wireless operators in Costa Rica in the next few critical years" said Jonathan Bettsak, Director, C.R. Transmission Holding Corp. "We chose GTP given their reputation for closing transactions quickly and fairly as well as their reputation for operational excellence among the major carriers, both in the United States and Latin America. Today, we are extremely happy with the choice we made and look forward to a great working relationship in the future with GTP to maximize customer satisfaction."
Terms of the Transaction remain confidential between the parties.
About Global Tower Partners
Global Tower Partners (www.gtpsites.com), based in Boca Raton, Florida, is one of the leading providers of outsourced antenna site facilities to the wireless communications industry in the United States. GTP's business includes the ownership, development, leasing and management of antenna sites on towers and commercial real estate rooftops. GTP owns, manages, or master leases more than 13,000 wireless sites. GTP's customers are leading wireless communications providers including AT&T, Sprint-Nextel, Verizon Wireless, T-Mobile USA, Leap Wireless, Clearwire, US Cellular, and Metro PCS.
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Macquarie Group is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries and has assets under management totaling nearly $200 billion USD as of September 2009.
