I Squared Capital to Acquire Hutchison Global Communications (Asia)
Posted On: 30 Jul 2017 | Source(s): Hutchison Telecommunications, I Squared Capital
Global infrastructure investment manager I Squared Capital has agreed to acquire 100 percent of Hutchison Global Communications (HGC), the fixed-line services unit of Hong Kong-based Hutchison Telecommunications, for a total consideration of HKD14.5 billion (approximately US$1.86 billion). HGC, which operates more than 1.4 million kilometers of fiber optic networks and 25,000 wireless internet hotspots, will partner with I Squared to develop new information infrastructure solutions in the region. I Squared will invest through ISQ Global Infrastructure Fund II. The transaction, which is subject to shareholder approval, is expected to close in October 2017.