Dominican government to bag USD360m from Tricom, Orange sales

8 Jan 2014

The government of the Dominican Republic is in line to receive around USD360 million from Luxembourg-based private equity investment fund Altice Group, after its acquisitions of Dominican operators Tricom Telecom and Orange Dominicana are finalised. Local news agency Diario Libre reports that the sum corresponds to 20% in imposed taxes.

As previously reported by TeleGeography’s CommsUpdate, in November 2013 Altice Caribbean, a subsidiary of Altice Group, signed an agreement to acquire Dominican integrated telecoms services provider Tricom from its current owner Hispaniola Telecom, a company controlled by Amzak Capital Management and Inversiones Bahia, for USD400 million. In addition, towards the end of the month, Paris-based Orange Group agreed to sell its Orange Dominicana unit to Altice for EUR1.1 billion (USD1.435 billion). In December 2013 Altice Group implemented bond-heavy financing worth USD1.685 billion to back its parallel acquisitions of Orange and Tricom.

Dominican Republic, Altice Dominicana (formerly Orange), Altice Europe (formerly Altice Group), Tricom