Amper, a Spain-based company primarily engaged in the telecommunications sector, has countersigned a non-binding letter of intent (LoI) with state-backed Fijian company Amalgamated Telecom Holdings (ATH) concerning the latter’s plan to acquire all of Amper’s equity interests in its businesses across the South Pacific. It is understood that ATH has submitted an offer to Amper based on an enterprise value-to-EBITDA multiplier of 6x, subject to due diligence, adjustment for liabilities, requisite regulatory approvals, licences and authorisations. The LoI was signed on 30 June 2016 and both parties expect the deal to be finalised in approximately three months.
Amper has various telecoms interests in the Pacific, including AST Telecom (American Samoa) and BlueSky Samoa (Samoa) – which jointly control a 60% stake in BlueSky Cook Islands (formerly Telecom Cook Islands).
ATH has significant interests in the Fiji telecoms market – including subsidiaries Telecom Fiji Limited (TFL), Vodafone Fiji, Internet Services Fiji (Connect), Fiji International Telecoms Limited (FINTEL) and Pacific Emerging Technologies – and in May 2015 the group completed the takeover of Telecom Services Kiribati Ltd (TSKL), Kiribati’s sole operator of mobile, fixed line and broadband services (now renamed Amalgamated Telecom Holdings Kiribati Limited [ATHKL]).