Liberty Latin America (LLA) yesterday (5 November 2019) announced it has sold fixed and mobile operator Cable & Wireless (C&W) Seychelles to a consortium of local investors at an enterprise value of USD104 million, on a cash and debt-free basis. Portman Global Partners is acting as financial advisor to LLA on the transaction, which sees LLA divest its sole subsidiary outside of its Americas/Caribbean geographical footprint.
C&W Seychelles is a full-service provider with a range including broadband internet, fixed telephony, IPTV and mobile for residential and business customers across the 115-island Indian Ocean archipelago. LLA reported that C&W served 23,500 fixed and 76,000 mobile subscribers at mid-2019.
LLA CEO Balan Nair said of the deal: ‘We are very pleased to find a consortium of local Seychellois investors with the ability to lead C&W Seychelles into its next phase of growth.’