NK 108 Empreendimentos e Participacoes (NK 108) has made a binding offer to acquire 8,000 fixed telecoms infrastructure sites from Brazil’s Oi.
In a statement to its shareholders, Oi stressed that the offer was irrevocable and irreversible. Under the agreement, NK 108 – an affiliate of Highline – will acquire 100% of the capital of a special purpose vehicle (SPE) created to hold the infrastructure in question.
NK 108 will pay a total of BRL1.697 billion (US$324.9 million) for the acquisition, with BRL1.088 billion to be paid as soon as the deal has closed. The firm then has until 2026 to pay the remainder, although the timeframe may be altered depending on how it has used the infrastructure.
TeleGeography reports that the acquisition will require regulatory approval from Antel (Agencia Nacional de Telecomunicacoes / National Telecommunications Agency) as well as CADE (Conselho Administrativo de Defesa Economica / Administrative Council for Economic Defence).
In a separate purchase agreement, Boca Raton-based SBA Communications Corporation is spending US$725 million to acquire 2,600 cell sites across Brazil from Grupo TorreSur (GTS). The firms expect the deal to close in Q4 2022. In the second quarter of this year, SBA bought up 210 telecom sites across Brazil, along with one data centre, for US$127.3 million.