Advantage Partners completes takeover of GTA TeleGuam
Japanese buyout firm Advantage Partners (AP) finally completed its takeover of GTA TeleGuam, Guam’s leading telecom operator.The selling party is Shamrock Capital Advisors, a California-based private equity firm that obtained GTA from the Guam government through a January 2005 privatization.
The deal was approved by the country’s Public Utilities Commission last November following a merger agreement GTA signed with AP. However, another regulatory body challenged the decision, creating a further hold up.
AP has no plans to change executive operation team and would retain all current staff, according to a press release.
Richard L. Folsom, representative partner at Advantage Partners said: “GTA TeleGuam’s record of achievements and success since privatization plus the growth prospects in Guam as a natural communications gateway between Asia and the US mainland attracted Advantage Partners.”
Advantage Partners sees growth opportunities for GTA in light of the US Navy's plans to relocate 20,000 marines to Guam from Okinawa before 2014.
More on Buyouts
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.