UPDATE The pending sale of Parallel Infrastructure, a build-to-suit tower operator, from Apollo Global Management, Inc. (NYSE: APO) to Harmoni Towers has been put on hold by Delaware's Chancery Court after Australia-based property investor Lendlease America Inc. sought an emergency court order to block the sale.
Lendlease’s interest in Parallel Infrastructure stems back to 2020 when Apollo acquired Lendlease Telecom, including a portfolio of operating cell towers and a pipeline of contracted towers under development and rebranded it as Parallel Infrastructure. Parallel Infrastructure was to be led by CEO Yannis Macheras and its management team from its headquarters in Charlotte, NC.
In August 2022, Palistar Capital LP, owner of Harmoni, acquired Parallel Infrastructure from Apollo, a tower platform and build-to-suit provider, creating one of the top ten largest private tower companies in the U.S., with more than 2,000 built and in-construction towers. Continue Reading |
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