SPK
04/03/2015 09:54
ASSET
NOT PRICE SENSITIVE
REL: 0954 HRS Spark New Zealand Limited
ASSET: SPK: Spark NZ enters agreement for sale of Telecom Rentals
Market Announcement
04 March 2015
Spark New Zealand enters conditional agreement for the sale of Telecom
Rentals Limited
Spark New Zealand announced today it has entered into a conditional agreement
to sell 100% of share capital in Telecom Rentals Limited (TRL) for $106
million to FlexiGroup Limited.
TRL earns approximately $5 million of EBITDA per annum.
Established in 2006, TRL is a wholly owned subsidiary of the Spark New
Zealand Group and provides leasing of ICT and Telecommunications equipment.
This divestment is in line with Spark New Zealand's strategy to focus on
digital services and its ambition to become a winning business, inspired by
customers to unleash the potential in all New Zealanders.
The transaction is expected to complete by 30 April 2015.
- ENDS -
For media queries, please contact:
Richard Llewellyn
Head of Corporate Communications
+64 (0) 27 523 2362
For investor relations queries, please contact:
Mark Laing
General Manager Corporate Finance
+64 (0) 27 227 5890
End CA:00261447 For:SPK Type:ASSET Time:2015-03-04 09:54:49
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