Menu
Deal done: Infratil and Brookfield go unconditional on Vodafone NZ

Deal done: Infratil and Brookfield go unconditional on Vodafone NZ

New owner updates guidance as deal completion arrives one month early

Vodafone NZ buyout to close a month earlier than forecast.

Vodafone NZ buyout to close a month earlier than forecast.

Infratil and Canadian partner Brookfield Asset Management announce their bid for Vodafone NZ is now unconditional following approvals from the Overseas Investment Office and Commerce Commission.

Infratil said completion of the $3.4 billion transaction is expected to occur on 31 July and has updated its earnings guidance.

At Infratil's 2019 results announcement on 17 May, Infratil provided an EBITDA guidance range of $635 million to $675 million for its 2020 financial year. 

This included a seven month contribution from Vodafone NZ, based on a 49.9 per cent share of underlying EBITDA from 1 September. 

Based on an expected completion date of 31 July, Infratil told shareholders today it now expected its 2020 underlying EBITDA to be in the range of $655 million to $695 million, representing an eight month contribution from Vodafone NZ.

On completion, Vodafone Group and Vodafone NZ will enter into a partner market agreement, which will include use of the Vodafone brand, preferential roaming arrangements, access to Vodafone’s global IoT platform and central procurement function, and a range of services for the business and consumer markets.

Announcing the deal in May, Infratil told investors the acquisition "significantly strengthens the cash generative core" of its portfolio. 

Vodafone NZ increases Infratil's exposure to long-term data and connectivity growth and complements the acquisition of Canberra Data Centres, it said.

"Telecommunications is critical infrastructure for New Zealand and Vodafone NZ is an integral part of everyday Kiwi life," said Infratil chairman Mark Tume.



Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags VodafoneinfratilBrookfield Asset Managementmobile telco telecommunications

Featured

Slideshows

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA

Reseller News has honoured the leading female front runners of the New Zealand ICT industry at the 2019 Women in ICT Awards (WIICTA) in Auckland. The awards recognised standout individuals across six categories, spanning Entrepreneur, Rising Star, Shining Star, Community, Technical and Achievement. Photos by Gino Demeer.

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA
Reseller News kicks off awards season in 2019 with Judges' Lunch

Reseller News kicks off awards season in 2019 with Judges' Lunch

The 2019 Reseller News Innovation Awards has kicked off with the Judges Lunch in Auckland with 70 judges in the voting panel. The awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors. Photos by Christine Wong.

Reseller News kicks off awards season in 2019 with Judges' Lunch
Reseller News welcomes industry figures for 2019 Hall of Fame lunch

Reseller News welcomes industry figures for 2019 Hall of Fame lunch

Reseller News welcomed 2018 inductees - Chris Simpson, Kendra Ross and Phill Patton - to the third running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing landscape of the technology industry in New Zealand, while outlining ways to attract a new breed of players to the ecosystem. Photos by Gino Demeer.

Reseller News welcomes industry figures for 2019 Hall of Fame lunch
Show Comments