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TPG closes investment in Myanmar Telecom Tower Venture

Jerome Buzenet and William D. Greenlee led the team of DFDL Myanmar to assist TPG to successfully close their first investment in Myanmar in a telecom infrastructure company in the first quarter of 2014. The Texas-based TPG invested about USD 40 million this month in Apollo Towers Myanmar Ltd.; this is the first foray by a big- name U.S. private-equity firm in Myanmar since it emerged from military rule three years ago.

Apollo Towers is an early-stage tower operations company in Myanmar. Apollo Towers’ founder, Sanjiv Ahuja, is a world-class telecom executive with experience building towers in emerging and frontier markets across the globe. With the country’s wireless penetration rate representing one of the lowest in the world, Apollo Towers offers an opportunity to enter an attractive market in an industry poised for significant growth.