Brief: Infratil Announces Strategic Investment In Console Connect

HKT Trust and HKT

09/07/2023 21:34

July 10 (Reuters) - Infratil Ltd  IFT.NZ :
    * STRATEGIC INVESTMENT IN CONSOLE CONNECT
    * STRATEGIC INVESTMENT IN CONSOLE CONNECT
    * EXECUTED A CONDITIONAL AGREEMENT WITH HKT TRUST AND HKT
LIMITED
    * AGREEMENT TO ESTABLISH A STRATEGIC PARTNERSHIP TO
ACCELERATE
GROWTH OF ITS CONSOLE CONNECT BUSINESS
    * WILL INITIALLY ACQUIRE AN 80% STAKE IN CONSOLE CONNECT
FROM HKT
FOR US$160 MILLION
    * FOLLOWING THIS INITIAL PERIOD OF GROWTH INVESTMENT,
INFRATIL
WILL OWN BETWEEN 60-80% OF CONSOLE CONNECT
    * HKT & CO WILL JOINTLY INVEST UP TO US$295 MILLION OVER A
2-YEAR
PERIOD FOLLOWING COMPLETION OF ACQUISITION
    * HKT HOLDING REMAINDER OF CONSOLE CONNECT
    * COMPLETION IS CURRENTLY EXPECTED BY Q3 2024

Further company coverage:  IFT.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))