Vodafone Group Plc COMPLETION OF SALE OF VODAFONE NEW ZEALAND (2676H)
31 Julio 2019 - 01:00AM
UK Regulatory
TIDMVOD
RNS Number : 2676H
Vodafone Group Plc
31 July 2019
31 July 2019
VODAFONE GROUP COMPLETES SALE OF VODAFONE NEW ZEALAND
Vodafone Group Plc ("Vodafone") has completed the sale of 100%
of Vodafone New Zealand Limited ("VFNZ") to a consortium comprising
Infratil Limited and Brookfield Asset Management Inc. for a cash
consideration equivalent to an Enterprise Value of NZ$3.4bn
(EUR2.1bn(1) ), implying an FY'19 multiple of 7.3x Adjusted
EBITDA(2) and 16.2x Adjusted OpFCF(3) .(4)
Vodafone and VFNZ have now entered into a Partner Market
agreement, which includes use of the Vodafone brand, preferential
roaming arrangements, access to Vodafone's global IoT platform and
central procurement function, and a range of services for the
business and consumer markets.
Proceeds from the sale will be used to reduce Vodafone's net
debt.
Nick Read, CEO, Vodafone Group, said: "This transaction is a
continuation of our strategy to optimise our portfolio and reduce
our debt. I am pleased we will continue our 21-year relationship
with the business and talented team in New Zealand through a
Partner Market agreement, delivering Vodafone's technology and
services to benefit the country as it transitions to a digital
society."
- ends -
Vodafone Group
Media Relations Investor Relations
www.vodafone.com/media/contact ir@vodafone.co.uk
(1) Converted from NZ$ to EUR at a rate of 1.6464 (as of
31-Mar-19)
(2) Net of pro-forma Vodafone Partner Market Agreement service
fees
(3) Adjusted OpFCF defined as Adjusted EBITDA minus capex
(4) The selling entity is Vodafone Europe B.V., a 100% owned
indirect subsidiary of Vodafone Group Plc
About Vodafone Group
Vodafone Group is one of the world's leading telecoms and
technology service providers. We have extensive experience in
connectivity, convergence and the Internet of Things, as well as
championing mobile financial services and digital transformation in
emerging markets.
Vodafone Group has mobile operations in 24 countries, partners
with mobile networks in 42 more, and fixed broadband operations in
18 markets. As of 30 June 2019, Vodafone Group had approximately
640 million mobile customers, 21 million fixed broadband customers
and 14 million TV customers, including all of the customers in
Vodafone's joint ventures and associates. For more information,
please visit: www.vodafone.com.
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END
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