Deal Details: Eir has agreed to sell its mobile telecom infrastructure management business Emerald Tower to Phoenix Tower International for €300m.
Eir is the leading telecommunications services provider in Ireland, offering broadband, voice, TV, and data services to residential, corporate and government segments.
Eir Group generated total revenue of €1.249bn and adjusted EBITDA of €578m for the year ended 30 June 2019.
Eir will retain ownership of the base stations, antennae and all telecom-related equipment, including fibre.
Following this transaction, Blackstone-backed Phoenix, founded in 2013, will own and operate in excess of 9,000 towers, 986 km of fiber and over 80,000 other wireless infrastructure and related sites, majority of which are in the Americas.
Following the deal, which is expected to close at the end of the summer, Phoenix will be the largest tower infrastructure provider in Ireland.