Investment bank Jefferies Financial Group, on Monday, confirmed to facilitate the sale by broadband provider OpNet, its operation to Wind Tre, a subsidiary of CK Hutchison Group Telecom Holdings Ltd (CKHGT) in a cash deal for €485 million ($520 million).
The firm said under the terms of this sale agreement, the deal will include OpNet’s financial debt, transaction costs and other cash obligations, which is about €225 million, paid in cash or three-year notes issued by CKHGT which is similar to CKHGT’s publicly listed investment-grade bonds and are marketable.
Along with this deal, the firm said OpNet will retain its majority ownership in other operating telecom companies, resulting in about €320 million in final value to Jefferies from this transaction, which exceeds our current carrying value.
Investment Banking Institute said the deal is anticipated to close in the second or third quarter of 2024. This deal is followed by the recent agreement to sell automobile finance company, Foursight Capital to One Main Holdings and gold, silver mining company Golden Queen to Andean Precious Metals.
New York-based Jefferies is a global service investment banking and capital market firm that provides advisory, sales, trading, research, wealth and asset management services. The firm specializes in fixed income, equities, research and strategy, wealth management, as well as provides financial services to its clients.
To read more on Finance, head to the link.
