Liberty Latin America completes acquisition of CableticaMonday, October 1st, 2018
Acquisition of 80% Stake in Leading Cable Operator in Costa Rica
DENVER, Colorado — Liberty Latin America Ltd. (“Liberty Latin America”) (NASDAQ: LILA and LILAK, OTC Link: LILAB), a leading telecommunications company with operations in Chile, Puerto Rico, the Caribbean and other parts of Latin America, today completed its acquisition of an 80% stake in Cabletica, a leading Costa Rican cable operator, from Televisora de Costa Rica S.A. (“Televisora”) who retain a remaining 20% interest. Cabletica was acquired for an enterprise value of CRC 146 billion (approximately $250 million[1,2]).
Balan Nair, President and CEO of Liberty Latin America, commented, “We are thrilled to have completed our first acquisition as Liberty Latin America and look forward to leveraging our capabilities and investing in Cabletica to enhance the leading products and services currently delivered to customers in Costa Rica. As we grow our operations in Latin America and the Caribbean, the combined force of our people, products and services, and worldclass technology will empower all of our customers to discover and experience the endless possibilities of the digital world.”
René Picado, President of Televisora said, “We are excited to join forces with an industry leader like Liberty Latin America and believe this is a great strategic fit rooted in a shared mission and culture. We have transformed communications in Costa Rica and are extremely proud of what we have accomplished. Together with Liberty Latin America, we have an exciting opportunity to further develop our portfolio of products, delivering more leading services and value to our customers.”
1. Based on a USD/CRC foreign exchange rate of 583 as of September 27, 2018.
2. The purchase price for the 80% equity stake is subject to customary adjustments under the transaction documents.