12 Dec 2018
Madrid-based Grupo Amper has confirmed that the long-running sale of its South Pacific business to Amalgamated Telecom Holdings (ATH) of Fiji has now closed. The final regulatory permission required came from the Committee for Foreign Investment in the United States (CFIUS), which was obliged to review the American Samoa component of the deal, namely the transfer of BlueSky American Samoa.
Previously, on 17 November the US Federal Communications Commission (FCC) approved the takeover deal, which includes AST Telecom (BlueSky American Samoa) as well as the company’s submarine cable assets – the American Samoa Hawaii Cable (ASHC) and the Samoa American Samoa Cable (SASC), as well as assorted submarine cable landing licences covering the telco’s facility in Iliili.
According to TeleGeography’s GlobalComms Database, on 30 August 2016 ATH announced that Amper had accepted its FJD163 million (USD79.2 million) binding offer for the sale of all of its interests in the South Pacific – comprising units in Samoa, American Samoa and the Cook Islands (and a small-scale MVNO in New Zealand). ATH went on to execute a ‘deed of sale’ on 23 September 2016, the other elements of the deal concluded shortly thereafter.
In announcing the closing of the transaction, Amper notes that the final price had increased from USD79.2 million to USD90.0 million because the net financial position of the transferred companies has ‘improved dramatically’ since the transaction was first announced back in 2016.