Tigo El Salvador sells and leases back towers to SBA Communications Corporation for approximately $145 million
Clients Telemóvil El Salvador S.A. de C.V.
Jones Day advised Telemóvil El Salvador S.A. de C.V. ("Tigo El Salvador"), a subsidiary of Millicom International Cellular S.A., in the sale of up to approximately 800 wireless communications towers to a subsidiary of SBA Communications Corporation ("SBA"). As a result of the transaction, Tigo El Salvador received approximately US$145 million in cash. Additionally, Tigo El Salvador and SBA entered into a long-term leasing agreement whereby SBA will provide Tigo El Salvador with wireless communications towers to support Tigo El Salvador's wireless networks and rollout plans.