A consortium of local entrepreneurs, namely, the Joe Albert Group, JFA Group, Jamshed Pardiwalla, Ravi Raghwani, Andy Bainbridge, ACM & Associates acquired Cable & Wireless Limited from Liberty Latin America Ltd. for an enterprise value of approximately $100 million.
November 04, 2019
Share
A consortium of local entrepreneurs, namely, the Joe Albert Group, JFA Group, Jamshed Pardiwalla, Ravi Raghwani, Andy Bainbridge, ACM & Associates acquired Cable & Wireless (Seychelles) Limited from Liberty Latin America Ltd. (NasdaqGS:LILA) for an enterprise value of approximately $100 million on November 5, 2019. The transaction is on a cash and debt-free basis. The net proceeds from the sale are expected to be used for general corporate purposes. Proceeds from the disposal of Cable & Wireless (Seychelles) Limited will be used to fund the acquisition of AT&T's operations in Puerto Rico and the U.S. Virgin Islands. A Victoria based professional services firm ACM represented the shareholders in the deal. Portman Global Partners acted as financial advisor to Liberty Latin America on the transaction. Jonathan Gordon, Derek Jones, Neil Coulson and Jon Lobb of Baker Botts acted as legal advisors for Liberty Latin America.
A consortium of local entrepreneurs, namely, the Joe Albert Group, JFA Group, Jamshed Pardiwalla, Ravi Raghwani, Andy Bainbridge, ACM & Associates completed the acquisition of Cable & Wireless (Seychelles) Limited from Liberty Latin America Ltd. (NasdaqGS:LILA) on November 5, 2019. The acquisition was financed by a consortium of banks led by Trade Development Bank (TDB), with the participation of Barclays and ABC Banking Corporation of Mauritius. Nouvobanq has also been instrumental in facilitating the purchase.
Liberty Latin America Ltd is a communications company operating in over 20 countries across Latin America and the Caribbean under the consumer brands BTC, Flow, Liberty and Mas Movil, and through ClaroVTR, its joint venture in Chile. The Company's business products and services include enterprise-grade connectivity, data center, hosting and managed solutions, as well as information technology solutions with customers ranging from small and medium enterprises to international companies and governmental agencies. In addition, Liberty Latin America operates a subsea and terrestrial fiber optic cable network that connects approximately 40 markets in the region. Its segments are C&W Caribbean and C&W Panama. The communications and entertainment services that the Company delivers to its residential and business customers include video, broadband Internet, telephony and mobile services. It is focused on leveraging its full-service product suite to deliver fixed-mobile convergence offerings.
A consortium of local entrepreneurs, namely, the Joe Albert Group, JFA Group, Jamshed Pardiwalla, Ravi Raghwani, Andy Bainbridge, ACM & Associates acquired Cable & Wireless Limited from Liberty Latin America Ltd. for an enterprise value of approximately $100 million.