Globe closes Unity deal on 55 towers worth P660M

 
Globe Telecom Inc. said Friday it closed the deal on the sale to Unity Digital Infrastructure of 55 telecom towers valued at approximately P660 million.

Globe signed a deal in May to sell a total 447 telecom towers to Unity, a partnership between Aboitiz InfraCapital and Partners Group, for P5.4 billion.
The first closing of 115 towers of 447 was completed in July. The towers were worth P1.4 billion.

With the latest closing, Unity will have to meet certain conditions to complete the purchase of the remaining 277 towers worth around P3.3 billion.
“There will be multiple closing dates which will happen as and when closing conditions are met. We will provide updates on the relevant development of the disposal of tower assets in due course,” Globe said.