April 6, 2015—The government of the Republic of Kiribati has declared Amalgamated Telecom Holdings, owner of Vodafone Fiji, the winning bidder in the asset sale of Telecom Services Kiribati Limited. TSKL is the state-owned monopoly provider of telecom services in Kiribati.
Nathan Associates, in partnership with SINTRA Consulting and Cameron LLP, performed the due diligence of TSKL, structured the transaction, and guided the government on the implementation of a public tender of TSKL’s assets through a two-phase project that began in 2013.
The ATH bid consisted of AUD$7.5 million (US$5.7 million) in cash and assumption of TSKL’s debt of AUD$0.67 million. The parties have 30 days to close the transaction. The sale is expected to improve telecom services throughout Kiribati and the efficiency of service provision.