MANILA, December 5, 2024 - Frontier Tower Associates Philippines Inc. (“Frontier”) and CREI
Management Services FZE (“CREI”) announced that they signed an agreement for the purchase
and sale of 100% of the shares held by CREI in PH1 Holding FZ-LLC, a UAE based entity being the
parent company of Communication and Renewable Energy Infrastructure CREI Phils Inc. in the
Philippines.
This transaction will add over 400 towers at 1.25x colocation ratio to Frontier’s existing portfolio
of close to 5,000 towers in the Philippines. Closing of the transaction will be subject to customary
closing conditions including approval from the Philippine Competition Commission (PCC),
expected to be completed in the first quarter of 2025.
CREI will retain its presence and keep investing in the Philippines through its EsCo activities as
well as its affiliated EPC and O&M services in the country, ensuring bringing additional value to
its local partners. The transaction ensures a seamless transition with a trusted market leader
known for high-quality operations, maintaining continuity and service standards.
Index Partners and Global Gate Capital acted as financial advisors, and Jones Day, King and
Spalding and MVGS acted as legal counsels to CREI. Latham& Watkins and Sycip acted as legal
counsels to Frontier.
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