Monday, 31 July 2017 12:09

Planned Hutchison takeover for $2.3b

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Global infrastructure investment manager I Squared Capital is acquiring Hutchison Global Communications from Hong Kong-based Hutchison Telecommunications in a deal valued at HK$14.5 billion (A$2.3 billion).

The takeover of Hutchison, Vodafone’s partner in Australia, is expected to close by October this year.

The New York-based I Squared Capital has signed an agreement to acquire 100% of Hutchison Global (HGC) through its ISQ Global Infrastructure Fund II.

HGC is a provider of fixed-line services to fixed and mobile carriers, OTT service providers, corporate and business, residential and data centres in Hong Kong and around the world.

The transaction is expected to close by October 2017.

Gautam Bhandari, partner at I Squared Capital, said: “As a premier global hub for commerce and telecommunications, Hong Kong benefits from innovative products and world class services”.

“With I Squared Capital’s investment, HGC will continue to provide the same quality of service that mobile telecommunication providers, corporate and residential customers have come to expect.

"Fresh capital will also enable the company to develop new solutions to meet the ever-increasing demand for high-speed information infrastructure throughout the region and beyond.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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