Amended deal gives Pension Fund 22% of C&W Seychelles

3 Feb 2020

A deal under which Seychelles Pension Fund (SPF) acquired a minority stake in full-service operator Cable & Wireless (C&W) Seychelles has been amended to increase the fund’s stake in the telco from 20% to 22%, Seychelles News Agency reports. The SPF had agreed to pay USD24 million to buy 20% equity in C&W from local consortium CWS Investment in November 2019, but critics including politicians claimed the per-share price was too high. Following recent amendments to the Seychelles Pension Fund law giving the Ministry of Finance oversight on investments, the deal has now been finalised giving SPF 22% for an unchanged fee.

Seychelles, Cable & Wireless Seychelles