Liberty Latin America Completes Acquisition of Cabletica
October 1, 2018
Acquisition of 80% Stake in Leading Cable Operator in Costa Rica
DENVER, Colorado–(BUSINESS WIRE)–Liberty
Latin America Ltd. (“Liberty Latin America”) (NASDAQ: LILA and
LILAK, OTC Link: LILAB), a leading telecommunications company with
operations in Chile, Puerto Rico, the Caribbean and other parts of Latin
America, today completed its acquisition of an 80% stake in Cabletica, a
leading Costa Rican cable operator, from Televisora de Costa Rica S.A.
(“Televisora”) who retain a remaining 20% interest. Cabletica was
acquired for an enterprise value of CRC 146 billion (approximately $250
million1,2).
Balan Nair, President and CEO of Liberty Latin America, commented, “We
are thrilled to have completed our first acquisition as Liberty Latin
America and look forward to leveraging our capabilities and investing in
Cabletica to enhance the leading products and services currently
delivered to customers in Costa Rica. As we grow our operations in Latin
America and the Caribbean, the combined force of our people, products
and services, and world-class technology will empower all of our
customers to discover and experience the endless possibilities of the
digital world.”
René Picado, President of Televisora said, “We are excited to join
forces with an industry leader like Liberty Latin America and believe
this is a great strategic fit rooted in a shared mission and culture. We
have transformed communications in Costa Rica and are extremely proud of
what we have accomplished. Together with Liberty Latin America, we have
an exciting opportunity to further develop our portfolio of products,
delivering more leading services and value to our customers.”
About Liberty Latin America
Liberty Latin America is a leading telecommunications company operating
in over 20 countries across Latin America and the Caribbean under the
consumer brands VTR, Flow, Liberty, Más Móvil and BTC. The
communications and entertainment services that we offer to our
residential and business customers in the region include digital video,
broadband internet, telephony and mobile services. Our business products
and services include enterprise-grade connectivity, data center, hosting
and managed solutions, as well as information technology solutions with
customers ranging from small and medium enterprises to international
companies and governmental agencies. In addition, Liberty Latin America
operates a sub-sea and terrestrial fiber optic cable network that
connects over 40 markets in the region.
Liberty Latin America has three separate classes of common shares, which
are traded on the NASDAQ Global Select Market under the symbols “LILA”
(Class A) and “LILAK” (Class C), and on the OTC link under the symbol
“LILAB” (Class B).
For more information, please visit www.lla.com.
1 Based on a USD/CRC foreign exchange rate of 583 as of
September 27, 2018.
2 The purchase price for the 80%
equity stake is subject to customary adjustments under the transaction
documents.
Contacts
Liberty Latin America Ltd.
Investor
Relations:
Kunal Patel, +1 786 274 7552
or
Media
Relations:
Claudia Restrepo, +1 786 218 0407