DIGICEL AGREES TO SELL ITS 75% HOLDING IN MYANMAR TOWER COMPANY TO EDOTCO GROUP
Friday 2nd October 2015 – Kingston, Jamaica. Digicel has entered into a Share Purchase Agreement with respect to the sale of its 75% stake in Digicel Asian Holdings Pte Ltd., the parent of Digicel Myanmar Tower Company Limited, to the Edotco Group Sdn Bhd.
Closing of the sale is currently expected to occur by November 30, 2015, and the closing is conditional upon receiving the necessary regulatory and other approvals. The transaction values 100% of Digicel Myanmar Tower Company, on a cash and debt free basis, at USD$221 million.
Commenting on the transaction, Digicel Group CEO, Colm Delves, said; “The sale represents a strong return on our investment in Digicel Myanmar Tower Company and I would like to thank all the staff at MTC for their significant efforts over the past two years in making the company such a success.”
Digicel Group Limited (Digicel) is a leading provider of communications services in 31 markets in the Caribbean and South Pacific regions, where the company provides a comprehensive range of Mobile Communications, Business Solutions, Cable TV & Broadband and other related products and services to retail, corporate (including small- and medium-sized enterprises) and government customers.
Digicel offers HSPA+ or long-term evolution (LTE) mobile technology (4G) in 30 markets and holds the number one mobile market position in 21 markets, with a mobile subscriber market share of more than 50% in 20 markets, as determined by internal company data.
Digicel launched mobile services in Jamaica, its first market, in 2001 and became the market leader there within 15 months of launch, based on a strategy that Digicel has since replicated successfully in several other markets. Digicel’s mobile subscriber base has grown from 0.4 million as of March 31, 2002 to 13.6 million subscribers as of March 31, 2015, representing a compound annual growth rate of 32.3%.
Digicel runs a host of community-based initiatives across its markets and has set up Digicel Foundations in Jamaica, Haiti, Papua New Guinea and Trinidad and Tobago which focus on educational, cultural and social development programs. Digicel is the lead sponsor of Caribbean, Central American and Pacific sports teams and individuals including the world’s fastest man, Usain Bolt, and Special Olympics teams throughout these regions. Digicel also sponsors the West Indies cricket team.
For more information, visit www.digicelgroup.com.