News broke last night that WIND Mobile’s founder and CEO, Tony Lacavera, was looking to buy out VimpelCom’s share of the Canadian carrier with a consortium of financial backers that includes West Face Capital, Tennenbaum Capital Partners, LG Capital Investors, Serruya Private Equity, and Novus Wireless Communications. The news was confirmed this morning with an announcement by Globalive Capital, Lacavera’s nvestment company.
“With stable, long-term ownership and secure financing, WIND Mobile is moving into an exciting new phase,” said Mr. Lacavera. “WIND Mobile is now poised to continue to bring True Mobile Freedom to Canadians for many years to come.”
Financial terms of the deal were not disclosed but Reuters suggests that it was worth about CA$135 million (US$122 million). WIND Mobilenot only picks up Vimpelcom and Global Telecom Holding’s equity interest but also the debt carried by the company.
The deal will need to obtain all necessary regulatory approvals prior to closing.
After spending CA$442 in Canada’s 2008 spectrum auction WIND Mobile launched in late 2009. It has since gradually expanded operations to a number of Canadian cities. Its latest launch was in Brantford, Ontario this summer.
Sources : WIND Mobile // Reuters