Linklaters advised Macquarie Capital on a transaction to combine Phil-Tower Consortium Inc (PhilTower) and Miescor Infrastructure Development Corporation (MIDC) to create one of the largest independent telecommunications towers companies in the Philippines.

The newly combined entity is backed by a consortium of global and local investors including Macquarie Capital, Stonepeak, Manila Electric Company (Meralco) and Global Network Inc. The combination of PhilTower and MIDC’s existing towers and expertise will result in a portfolio of over 3,300 operational towers, ensuring it is well-equipped to meet the growing demand for quality 4G and 5G mobile network infrastructure and enhanced connectivity across the Philippines.

The Linklaters cross-practice team is led by corporate partner Niranjan Arasaratnam and partner and Asia head of TMT Adrian Fisher, with support from managing associates Christopher Koay and Jia-Yi Tay. Antitrust & foreign investment partner Marcus Pollard and solicitor Kathleen Gooi provided specialist support on the transaction.

Corporate partner and global tech sector leader Niranjan Arasaratnam commented:

“We are grateful to have had the opportunity to support Macquarie Capital in this landmark transaction. This combination is the first of its kind in the Philippines independent tower market, and will pave the way for further digitisation and development in the region. We appreciate the trust placed in us in navigating this complex process.”

Linklaters is one of the market leaders in the digital infrastructure space, both in M&A transactions and standalone digital infrastructure contracting arrangements, playing into the combined strengths of the firm’s Asia-wide market leading corporate, finance, technology, and regulatory teams. The team has particular experience on matters relating to data centres, tower carve-outs, fibre networks and subsea cable systems, advising clients on the development, acquisition, financing, and disposal of digital infrastructure assets.