ANZ to finance major regional buyout by ATH
February 4, 2019 4:47 pm
ANZ Fiji Country Head Saud Minam [right] with ATH chairman Ajith Kodakoda
The Amalgamated Telecom Holdings will partner with ANZ bank to finalize the buyout of majority shares of the Bluesky Pacific group.
The Bluesky Pacifc group has telecommunication businesses in Samoa, American Samoa and the Cook Islands.
ATH CEO, Ivan Fong says ANZ will come on board to assist with financing the deal to the tune of $90 million.
“We’ve been quite pleased that ANZ has been able to walk with us step in step thus far in terms of financing and getting our infrastructure and upgrades on the ground so in the last few weeks or last month as you’ve heard we have received all the approvals now from the US authorities to complete the Bluesky transaction so within the next week or so this is what we will announce once we get all the documentation completed and ANZ will be large part of the financing.”
ANZ Fiji Country Head Saud Minam says it’s always good to have a regional bank partner adding he expects the ATH relationship to continue to grow.
Minam also highlighted that communication infrastructure is a key area of development both at international and regional level.
For the ATH group, acquiring the Bluesky Pacific will expand its regional portfolio to another five countries in total.