Bluesky Pacific’s parent company accepts sale offer from Fiji telecom
Bluesky Pacific Group’s parent company Amper SA has accepted an offer by a Fiji based telecom company to acquire at the price of more than $79 million controlling interest in Amper’s South Pacific Units.
Interestingly, the acquisition of Bluesky by a Fiji company comes at a time when the Lolo Administration is looking at Fiji’s national carrier, Fiji Airways to operate flights in and out of American Samoa.
In a June 30th news release, Fiji-based Amalgamated Telecom Holding (ATH) announced that Amper, which is based in Spain and primarily engaged in the telecommunications sector, has countersigned ATH’s non-binding Letter of Intent, which conveyed ATH’s intent to acquire all of Amper’s equity interests in its businesses in the South Pacific.
Additionally, the parties anticipate this deal to be finalized in three months, subject to all necessary regulatory approvals and consents being securied.
In a statement yesterday, ATH says Amber has accepted a “Binder Offer” from ATH for the purchase of all of Amper’s interest in the South Pacific.” Additionally, Amper will present and recommend the Offer to their shareholders at an upcoming special general meeting and if necessary, seek shareholder ratification on ATH’s Offer for the acquisition of Amper’s subsidiaries in the South Pacific.
“Under the key terms of the Offer, ATH will acquire a controlling interest in the South Pacific Units for a cash consideration of USD79,155,722. The transaction will be subject to requisite regulatory approvals and consents being obtained,” it says.
It is estimated that the parties will execute the “definitive agreements during September 2016,” the statement says.
Bluesky — which operates in American Samoa, Samoa, New Zealand and Cook Islands — plans to issue a statement today regarding the ATH acquisition of Amper’s interest in the South Pacific units.
After the June 30 announcement by ATH, Bluesky said in a statement that it fully supports its parent company’s decision “to explore this opportunity and it is involved in the discussions to ensure the best commercial decision is made not only for Amper SA and Bluesky Pacific Group operations, but also for its existing local investors, customers and community.” See Samoa News edition July 5.
The Fiji National Provident Fund (FNPF) is the largest shareholder in ATH and ATH Group of Companies comprises ATH, Telecom Fiji Ltd., Vodafone Fiji, FINTEL, Fiji Directories Limited, ATH Kiribati Limited, Datec (Fiji) Limited and its subsidiary, Datec Australia Pty Limited.
FNPF “is Fiji’s largest financial institution. We are the only superannuation fund that is mandated by law to collect compulsory contributions from employees and employers, towards the retirement savings of all workers in Fiji,” according to the company’s website.