SYDNEY/SINGAPORE — Macquarie Capital said on Monday its unit PhilTower Consortium Inc and Miescor Infrastructure Development Corp have completed a transaction that would create one of the largest independent telecommunications towers companies in the Philippines.
Macquarie Capital, part of top Australian investment bank Macquarie Group MQG.AX, did not provide financial details in the statement.
It said the new entity will command a portfolio of more than 3,300 operational towers, with a pipeline of more than 2,100 committed orders, and well positioned to meet the Philippines’ increased demand for connectivity and digital infrastructure.
The new entity is owned by a consortium including Macquarie Capital, Stonepeak, Manila Electric Company and Global Network Inc, according to the statement.
Macquarie Capital said it has been a shareholder in PhilTower since 2021.
The transaction has been approved by regulators in the Philippines, with all deal completion conditions completed, it added.
—Reporting by Scott Murdoch in Sydney and Yantoultra Ngui in Singapore; Editing by Tom Hogue and Rashmi Aich