Stonepeak To Acquire Portfolio Of Globe Telecom Towers In The Philippines
08/12/22, 1:54 AM
Location
new york
Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that certain of its associated investment vehicles have signed definitive agreements to acquire 2,180 telecom towers and related passive infrastructure from Globe Telecom, Inc. (Globe) (PSE: GLO) for a total consideration of approximately $472.2 million USD (P26.2 billion). Stonepeak is entering into the transaction through Miescor Infrastructure Development Corporation (MIDC), a joint venture between Meralco Industrial Engineering Services Corporation (MIESCOR) and Stonepeak. MIESCOR is a subsidiary of Manila Electric Company (Meralco) (PSE: MER), the largest private sector electric distribution utility company in the Philippines.
Company Info
Location
New York, New York, United States
Company info
The logistics portfolio in Jacksonville, Florida consists of nine assets totaling 1.8 million square feet, strategically located near the Port of Jacksonville. These assets are adjacent to the port with significant investments planned for improving access and utilization of the transportation infrastructure. The Port of Jacksonville has strong support from an extensive rail network, positive demographic trends, and a strategic location serving local and national supply chains.