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Digicel to Sell Its 75% Holding in Myanmar Tower to Edotco Group

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Digicel has entered into a Share Purchase Agreement with respect to the sale of its 75% stake in Digicel Asian Holdings, the parent of Digicel Myanmar Tower Company, to the Edotco Group.

Closing of the sale is currently expected to occur by November 30, 2015, and the closing is conditional upon receiving the necessary regulatory and other approvals. ­The transaction values 100% of Digicel Myanmar Tower Company, on a cash and debt free basis, at USD$221 million.

Commenting on the transaction, Digicel Group CEO, Colm Delves, said; "The sale represents a strong return on our investment in Digicel Myanmar Tower Company and I would like to thank all the staff at MTC for their significant efforts over the past two years in making the company such a success."

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Tags: digicel  Myanmar