TPG Telecom to sell part of its non-mobile fiber optic infrastructure and fixed assets to Macquarie-backed Vocus Group for A$5.25 billion (€3.54 billion), including debt , said the telecom operator on Monday.
The agreement closely follows the resumption of discussions between TPG and Vocus regarding the sale of TPG’s non-mobile fiber optic assets, after breaking off a similar discussion almost a year ago.
In August 2023, Australian data services company Vocus Group made a bid for some of the non-mobile fiber assets of TPG Telecom, one of the country’s largest telecommunications operators, valuing the assets at approximately 6.3 billion Australian dollars ($4.10 billion).
“The transaction unlocks the value of our fixed infrastructure assets while strengthening our financial position and creating a more focused and streamlined business with significant option for optimizing our capital structure,” said TPG CEO , Iñaki Berroeta.
TPG expects the transaction to generate net cash proceeds of between A$4.65 billion and A$4.75 billion, which the company intends to use to continue capital management and other investments.
($1 = 1.4848 Australian dollars)
