Advantage Partners will buy TeleGuam from Shamrock Capital
Tokyo-based PE firm Advantage Partners has signed a merger agreement with Guam telecom company TeleGuam Holdings, according to TeleGuam's statement, buying the company from Shamrock Capital Advisors, a California-based PE firm.
The transaction still needs regulatory approval from the Guamanian government. Financial details were not disclosed at this point. GTA TeleGuam has appointed Barclays Capital and Hughes Hubbard & Reed LLP as financial and legal advisor respectively. Deutsche Securities Inc. (Japan) has been serving as financial advisor for Advantage, while Nagashima Ohno & Tsunematsu and Kirkland & Ellis LLP have been appointed as their legal advisors.
The island of Guam has experienced significant innovation in communications services over the years, with strong growth prospects following the relocation of 8,500+ US Marines from Okinawa in Japan to Guam. GTA TeleGuam's record of achievements, coupled with growth prospects from the military buildup and the continued economic rise in Asia, attracted Advantage to the company and Guam, according to the statement.
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