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Coca Cola remains committed to USD 5 bn investment in India
2013-10-28 02:12:29| Beverages - Topix.net
In India, Coca-Cola sells carbonated and non-carbonated drinks such as Coca-Cola, Fanta, Thums Up, Sprite, Maaza, Minute Maid and Kinley.
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Pace to acquire Aurora Networks for USD 310 million
2013-10-23 13:24:00| Telecompaper Headlines
(Telecompaper) Set-top box maker Pace is expanding into the network equipment market with an agreement to buy Aurora Networks for USD 310 million cash. California-based Aurora develops and manufactures optical transport and access network equipment for delivery of video, data and voice services over fibre-based networks. In the year to 31 March, it generated revenues of USD 217 million and EBITDA of USD 30 million. The company counts over 200 customers in 50 countries, including all of the top 10 cable operators in the US. Pace said the deal will add significantly to earnings and support its current margin and leverage targets. It will maintain the Aurora brand and management and operate the company as a separate unit. Pace secured a five-year loan to finance the takeover, and also refinanced its existing credit facilities with a new USD 150 million revolver. Pending regulatory and shareholder approval, the deal is expected to close around year-end.
Tags: million
networks
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pace
Tellabs sold for USD 891 mln to Marlin Equity Partners
2013-10-21 14:53:00| Telecompaper Headlines
(Telecompaper) Marlin Equity Partners has agreed to acquire networking equipment maker Tellabs for USD 891 million. The price of USD 2.45 per share is a 4.3 percent premium on Tellabs' share price on 18 October, the last trading before the announcement. Tellabs' board approved the deal, and Michael J. Birck, Tellabs's co-founder and second-largest stockholder, said he supports the transaction. The takeover is expected to close before the end of the year. The deal follows a strategic review of the loss-making company's options, with more than 30 potential buyers contacted as part of the sale process. Tellabs said the takeover will give it the resources to invest in new technologies.
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AT&T sells tower rights to Crown Castle for USD 4.85 bln
2013-10-21 08:46:00| Telecompaper Headlines
(Telecompaper) AT&T has agreed to sell the rights to 9,700 of its mobile towers to Crown Castle for USD 4.85 billion cash. Crown Castle will have the exclusive right to lease and operate the AT&T towers for an average 28 years. At the end of the lease, Crown Castle will have the option to buy the towers for USD 4.2 billion. Crown Castle said nearly half of the AT&T towers are located in the top 50 markets in the US, where the majority of network densification and upgrade activity is expected to occur. The towers average 1.7 existing tenants per site, allowing further room for growth. The deal increases Crown Castle's footprint by 33 percent, strengthening its place as the biggest tower operator in the US. The company expects the contract to be slightly accretive to 2014 adjusted funds from operations per share and add 5 percent over the long term. AT&T has contracted to maintain its communications facilities on the towers for a minimum of 10 years with monthly rent of USD 1,900 per site and fixed annual rent increases of 2 percent. AT&T will also have access to additional space on the towers for its future use, subject to certain restrictions. The transaction is expected to close in the fourth quarter.
Vonage to buy Vocalocity for USD 130 mln
2013-10-10 13:59:00| Telecompaper Headlines
(Telecompaper) VoIP provider Vonage has agreed to acquire privately-held Vocalocity, a provider of UCaas services to SMEs, for USD 130 million, including USD 105 million in cash and USD 25 million in Vonage stock. The transaction is expected to add to adjusted earnings per share from 2015. The transaction is expected to close in the fourth quarter. Upon closing, Vocalocity CEO Wain Kellum will join Vonage as president, Business Services, and become a member of the company's senior leadership team. Vonage expects to achieve synergies from network operations and the use of technology for serving customers. Synergies in 2015 are estimated to be recurring and in the high single-digit million dollar range. Vocalocity reported first-half revenue up 39 percent year-on-year to USD 28 million, with an annual run rate of more than USD 56 million. Vonage will finance the transaction through cash and credit. The company expects to complete its USD 100 million share buyback programme by the end of next year, as planned.
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