CEPM fails with Aster sale appeal

5 Sep 2012

The Commercial and Civil Appeal Court of Santo Domingo in the Dominican Republic has rejected an appeal filed by Baninter Clearance Commission of the Central Bank and Consorcio Energetico Punta Cana-Macao (CEPM) regarding the proposed acquisition by CEPM of local cable TV operator Aster Comunicaciones. CEPM had been selected as the winning bidder when the Central Bank put Aster’s assets up for sale earlier this year, but the proposed USD27 million deal was then annulled by a Dominican court in June this year when a rival buyer – Servicios Ampliados de Telefonos (Satel) – complained that it had been unfairly excluded from the bidding process. Satel had said it would be prepared to pay USD44 million for Aster, which had been the original reserve price placed on the cableco.

According to TeleGeography’s GlobalComms Database, Aster has been under the control of the country’s Central Bank since 2009; it had previously been owned by collapsed banking group Baninter. It operates in 13 cities and has around 40,000 subscribers.

Dominican Republic, Aster Comunicaciones