Phoenix Tower International Acquires NOVEC GmbH
| Target: | NOVEC GmbH |
| Seller: |
NOVEC GmbH Shareholders |
| Advisory sell side: | ABN AMRO Bank N.V.| Financial Advisory CASE Corporate Finance | Financial Advisory Gleiss Lutz |
| Buyer: |
Phoenix Tower International |
| Advisory buy side: | CMS Hasche Sigle Van Lanschot Kempen | Financial Advisory Unicredit |
| Date announced: | 2023-10-11 |
In a significant development in the world of telecommunications infrastructure, Phoenix Tower International, a global leader in the sector, has successfully acquired NOVEC GmbH, the German subsidiary of Dutch telecommunications infrastructure provider NOVEC B.V. The transaction, which took place within the framework of a competitive bidding process, marks a crucial milestone for Phoenix Tower International as it expands its presence in the German telecommunications market. The acquisition will enable the company to further its commitment to supporting mobile network operators worldwide in meeting their coverage obligations and delivering high-quality mobile services.
The deal is expected to be finalized in the coming months, pending the satisfaction of customary conditions, including regulatory approvals.