Latham Advises Frontier Tower Associates Philippines Inc. on Its Acquisition of CREI Philippine’s TowerCo Portfolio

Latham & Watkins has advised Frontier Tower Associates Philippines Inc. (Frontier), a KKR portfolio company, on its 100% acquisition of the shares held by CREI Management Services FZE (CREI) in PH1 Holding FZ-LLC, a UAE-based entity and the parent company of Communication and Renewable Energy Infrastructure CREI Phils Inc. (CREI Phils) in the Philippines.

The transaction will add over 400 towers to Frontier’s existing portfolio of c. 5,000 towers in the Philippines. Closing of the transaction is subject to customary closing conditions including approval from the Philippine Competition Commission (PCC), expected in the first quarter of 2025.

The Latham team was led by Singapore corporate partner James Clayton-Payne, with Seoul counsel Regina Kim and Singapore associates Jonathan Wah and Cher Lin Chin. Advice was provided on UAE law matters by Dubai partner Chris Lester, with associates Michael Hammond, Farah El-Masri, Mustafa Darwich, and legal consultant Ali Almasaabi; on finance matters by Singapore partner Andrew Bishop, with Hong Kong counsel Ruonan Duan; on tax matters by London partner Helen Lethaby, with associate Catherine Hill; on antitrust matters by London partner Jonathan Parker, with associate James Mathieson; and on regulatory matters by Bay Area partner Christopher Frey, with Hong Kong associate Yan Bao.