PE firm KKR to invest $400 mn in telecoms tower business in Philippines

Private equity firm KKR & Co will invest $400 million in telecoms tower operations and expansion in the Philippines, the U.S. Department of Commerce said on Wednesday.
KKR will develop and acquire roughly 2,000 telecoms towers to support digital connectivity across the Philippines, the department said in a statement.

In 2022, a unit of KKR acquired 3,529 telecoms towers for 45 billion pesos ($814.73 million) in a sale and leaseback deal with Philippines’ Globe Telecom. The KKR unit bought another 1,012 towers for over 12.1 billion pesos from PLDT.