Phoenix Tower acquires 600 towers from Trilogy Bolivia for US$100mn

By Trilogy International Partners

Trilogy International Partners Inc. ("TIP Inc.") (TSX: TRL), an international wireless and fixed broadband telecommunications operator, today announced that its Bolivian subsidiary, NuevaTel, has entered into a definitive agreement to sell approximately 600 of NuevaTel's towers to a Bolivian subsidiary of Phoenix Tower International ("PTI"). As a result of the transaction, NuevaTel anticipates that it will receive approximately US$100 million in cash.

Additionally, the two companies have entered into a multi-year agreement whereby PTI will provide NuevaTel with access to certain wireless communication towers to support NuevaTel's wireless network and rollout plans.

The transaction will close in stages after all conditions to closing have been satisfied. The first closings are expected to take place in mid-February and are expected to include approximately 400 towers and result in cash consideration to NuevaTel of approximately US$65 million.

"We are pleased with this transaction which enhances our capital efficiency while aligning with strong partners at PTI. We continue to look at a number of strategic and operational alternatives in Bolivia and will remain opportunistic as it relates to maximizing shareholder value," said Brad Horwitz, President and CEO of Trilogy.

Trilogy International Partners was represented in the transaction by Lape Mansfield Nakasian and Gibson, LLC. PTI was represented by Choate Hall & Stewart LLP.

About Trilogy International Partners Inc. ("TIP Inc.")

Trilogy International Partners Inc. (TSX: TRL) is the parent company of Trilogy International Partners LLC, a wireless and fixed broadband telecommunications operator formed by wireless industry veterans John Stanton, Theresa Gillespie and Brad Horwitz. Trilogy's founders have an exceptional track record of successfully buying, building, launching and operating communication businesses in 15 international markets and the United States.

Trilogy currently provides wireless and fixed broadband communications services through its operating subsidiaries in New Zealand and Bolivia. Its head office is located at 155 108th Avenue NE, Suite 400, Bellevue, Washington, 98004 USA.