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TPG to buy AAPT for AUD 450 mln
2013-12-09 00:51:00| Telecompaper Headlines
(Telecompaper) Australian communications provider TPG Telecom will buy AAPT from Telecom New Zealand for AUD 450 million on a debt-free and cash-free basis. TPG will fund the acquisition by increasing and extending its existing debt facility. AAPT offers voice, internet, data, and cloud services to business and wholesale customers via its national network. TPG said that the acquisition will add 11,000km of fibre across six states and territories, fibre access to 1,500 premises, 15 data centres across all major capital cities, and widespread mid-band Ethernet capability to the company. Telecom New Zealand said that the sale of AAPT is consistent with its aim to focus principally on the New Zealand operations. The company anticipates in the first instance sale proceeds will be used to repay debt. The transaction, which is expected to complete on 28 February 2014, follows the sale of AAPT's consumer division in September 2010.
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Category:Telecommunications
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