GLOBE announced today that it has achieved a milestone in its partnership with Frontier Tower Associates Philippines Inc. (Frontier Towers) with the closing of the last batch of towers comprising 1,037 sites for a cash consideration of P13.17 billion.
These tower assets are composed of 84 percent ground-based towers and 16 percent rooftop towers.
The transfer wraps up Globe’s tower sale to Frontier Towers following the closing of a total of 3,529 towers since 2022.
In total, Globe has officially turned over 6,628 out of the 7,506 towers included in the Sale and Leaseback portfolio, generating approximately P85.2 billion in proceeds.
In 2022, Globe transferred 2,410 towers, followed by 2,057 the succeeding year.
The year-to-date transfer has now reached 2,161 towers, resulting in proceeds of around P27.8 billion.
Subsequent closings will happen as and when closing conditions are met. / PR