Investment fund Altice has acquired Axa Private Equity’s majority stake in Outremer Telecom which operates in French regions overseas in the Caribbean and Indian Ocean.
Altice bought Axa’s 67% interest for an undisclosed sum. In 2011 Axa acquired a…
Investment fund Altice has acquired Axa Private Equity’s majority stake in Outremer Telecom which operates in French regions overseas in the Caribbean and Indian Ocean.
Altice bought Axa’s 67% interest for an undisclosed sum. In 2011 Axa acquired a 52.26% stake in Outremer from Apax Partners and founder Jean-Michel Hegesippe for €133m.
Dexter Goei, the head of Altice, commented: “Following our recent announcement in Portugal [the acquisition of enterprise telco Oni], this transaction continues Altice’s strategy of expansion and growth through very attractive in-market consolidation opportunities.”
Altice already owns Le Cable, an arm of French cableco Numericable which operates in French territories Guadeloupe and Martinique.
Earlier in June the Luxembourg-based PE firm announced €1.17bn in financing that would be used in part for the Outremer transaction.
The fund, founded by French businessman Patrick Drahi, owns cablecos and telcos in France, Israel, Belgium, Luxembourg, Portugal, Switzerland, as well as in French Overseas Territories.
Franklin acted as legal adviser to Altice, Weil Gotshal & Manges advised Outremer, and Linklaters advised Axa.
Outremer Telecom provides fixed, mobile and internet services in Martinique, Guadeloupe, French Guiana, Reunion and Mayotte.
