KKR & Co. Inc.

NYSE:KKR   11:11:12 AM EDT
+1.24 (+1.98%)
Debt Financing / Related, Products

KKR, Telefónica To Create Colombia’S First Nationwide Open Access Fiber Optic Network

Published: 07/16/2021 22:50 GMT
KKR & Co. Inc. (KKR) - Kkr and TelefÓnica to Create Colombia’s First Nationwide Open Access Fiber Optic Network.
Transaction is Valued at Approximately $500 Million and is Subject to Customary Regulatory Approvals.
TelefÓnica Will Be a Minority Shareholder in New Company, With a 40% Stake.
As Part of Agreement, Kkr Will Acquire a Majority Stake in TelefÓnica's Existing Fiber Optic Network.
New Company Will Be Controlled by Kkr.company Will Be Run Independently by a Local Team in Colombia.
Scotiabank and Bank Street Are Acting As Financial Co-advisors to Kkr on Transaction.
New Company Plans to Expand Existing Fiber Optic Coverage From About 1.2 Mln Homes to at Minimum, 4.3 Mln Homes by End of 2024.