TPG tpg telecom limited.
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News: TPG TPG Telecom Announces Sale Of TPG Tower Assets For A$950 Mln

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    09/05/22
    08:35
    Post #: 61280182

    May 9 (Reuters) - TPG Telecom Ltd (TPG) :

    • SALE OF TPG TOWER ASSETS
    • PROPOSED DEAL FOR ENTERPRISE VALUE OF A$950 MILLION
    • ANTICIPATES TRANSACTION WILL DELIVER NET CASH PROCEEDS OF APPROXIMATELY A$890 MILLION
    • ENTERED BINDING DEAL TO SELL 100% OF ITS PASSIVE MOBILE TOWER AND ROOFTOP INFRASTRUCTURE TO OMERS INFRASTRUCTURE MANAGEMENT INC.
    • TRANSACTION INCLUDES A MASTER SERVICES AGREEMENT WITH A 20-YEAR TERM AND AN OPTION FOR TPG TELECOM TO EXTEND
    • WILL RECOGNISE ACCOUNTING GAIN ON SALE FROM TRANSACTION OF ABOUT A$350 MILLION TO A$400 MILLION AFTER TAX
    • EXPECTS TO USE CASH PROCEEDS TO REPAY EXISTING BANK DEBT
    • FOREIGN INVESTMENT REVIEW BOARD APPROVAL IS EXPECTED TO CLOSE IN Q3 OF FY22
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