Allen & Overy advises on the financing of the acquisition of TowerTel S.p.A. by Phoenix Tower International

TowerTel S.p.A. is an EIT subsidiary, which owns or leases, operates and manages approximately 2,400 telecommunications towers, distributed antenna systems and telecommunications sites across Italy. In addition, TowerTel S.p.A. has exclusive telecommunications marketing and leasing rights to more than 1,600 broadcast sites owned by EI Towers S.p.A, bringing the total potential portfolio to more than 4,000 sites in Italy.

This bank financing was arranged as part of a joint venture agreement between Phoenix Tower International (82%) and F2i TCl2 S.p.A. (18%).

This transaction involved a cross-border team from Paris and Milan headed by partners Driss Bererhi and Pietro Scarfone, counsel Amine Bourabiat and associates Dorian Le and Marco Mazzola, with senior associate Elia Ferdinando Clarizia, associate Simona Simone and trainee Lino Ziliotti on tax aspects, partner Hervé Ekué and associates Nadège Debeney and Emilie Ferré on hedging aspects. Other team members included senior associate Tzvétomira Pacheva-Belghitar and associates Aïda Lamrani Karim and Farah El Yacoubi, Sarah Lagarrigue-Courval and Ghita Guessous, partner Jimena Urretavizcaya Gil and senior associate Sara Sanz, partner Sami Mir and senior counsel Simon Stevens. 

Phoenix Tower International was advised by Freshfields Bruckhaus Deringer LLP.