(Reuters) – TPG Telecom will promote a few of its non-mobile fibre infrastructure and glued enterprise belongings to Macquarie-backed Vocus Group for A$5.25 billion ($3.54 billion) together with debt, the telco mentioned on Monday.
The deal follows intently on the heels of TPG and Vocus resuming talks concerning the sale of TPG’s non-mobile fibre belongings, after halting an analogous dialogue almost a yr in the past.
Australian information companies firm Vocus Group in August 2023 bid for a few of the non-mobile fibre belongings of TPG Telecom, one of many nation’s largest telecom operators, valuing the belongings at about A$6.3 billion ($4.10 billion).
“The deal unlocks the worth of our mounted infrastructure belongings whereas strengthening our monetary place and making a extra centered and streamlined enterprise with vital optionality for the optimisation of our capital construction,” TPG CEO Iñaki Berroeta mentioned.
TPG expects the deal to ship internet money proceeds between A$4.65 billion and A$4.75 billion, which the agency intends to make use of for additional administration of capital and different investments.
($1 = 1.4848 Australian {dollars})