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Advantage exits GTA TeleGuam to Indonesian trade buyer

  • Andrew Woodman
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Japan's Advantage Partners has exited GTA TeleGuam - the former state-owned telephone company based on the island of Guam - to Telkom Indonesia. The value of the transaction has not been disclosed.

TeleGuam has been serving the island for over 40 years, providing telephone, mobile, cable TV, and other services. Advantage bought the company in 2011 from Shamrock Capital Advisors, a California-based PE firm which had in turn acquired the business from the Guam government through a January 2005 privatization. According to a release, the exit is still subject to govenrment and regulatory approvals. 

Advantage made the investment via its JPY215 billion ($2.1 billion) fourth buyout fund that closed in 2007. This is the GP's first exit since it sold its stake in Japanese cinema chain United Entertainment - another Fund IV investment - to Lawson HMV Entertainment, a unit of Tokyo stock exchange-listed convenience store giant Lawson, in August last year.

Advantage is yet to launch a fifth fund and its currently investing out of a $200 million bridge fund which reached a final close in mid-2013.

 

 

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