Globe completes 60% of its P96B tower sale, leaseback deal.

Business.
Business.(Business File photo)

GLOBE announced the third closing of another 79 towers sold to Unity Digital Infrastructure (Unity), for a cash consideration of P948 million. This transaction is the last closing for the year 2023 and marks the third tranche of the 447 sale-and-leaseback deal with Unity with the transfer of ownership and management rights of 249 towers or around 56 percent of the sold towers.

With this recent closing, Globe has officially turned over the ownership of 4,467 towers (2,410 in 2022 and 2,057 in 2023) out of 7,506 towers sold, raising P57.4 billion, or approximately 60 percent of the tower deal. Apart from its deal with Unity, Globe sold tower portfolios to Frontier Tower Associates Philippines Inc., Phil-Tower Consortium Inc. and Miescor Infrastructure Development Corp.

For this year alone, 1,301 towers were transferred during the first half and another 756 towers during the second half, gaining over P27 billion in proceeds.

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