Utah-based Huntsman Family Investments (HFI) has confirmed the closing of its previously announced acquisition of TeleGuam Holdings (trading as GTA), from Japanese private equity firm Advantage Partners. The transaction was recently approved by the US Federal Communications Commission (FCC) and the Guam Public Utilities Commission (PUC). According to HFI, the final transaction also involved investment from a number of local backers, namely: the Ada family, the Moylan family, Phil Flores, Dr Nathaniel and Melissa Berg, Michael Ysrael and the Tenorio family of Saipan.
Paul Huntsman, President and CEO of HFI, commented: ‘We are pleased to have completed the acquisition of GTA, representing our commitment to take the company to heightened levels of growth on island and in the region. HFI is also extremely proud that several local partners have joined our family in this investment, demonstrating confidence in GTA’s continued success. Now, GTA for the first time is both locally and American owned.’