Following its acquisition by Japanese private equity firm Advantage Partners (AP), Guam incumbent GTA TeleGuam has appointed four representatives from AP to serve on its new board: Richard Folsom, Ichiro Otobe, Atsushi Akaike, and Emmett Thomas.
It has…
Following its acquisition by Japanese private equity firm Advantage Partners (AP), Guam incumbent GTA TeleGuam has appointed four representatives from AP to serve on its new board: Richard Folsom, Ichiro Otobe, Atsushi Akaike, and Emmett Thomas.
It has also retained four directors on its board: Peter Gill, founder and owner of KwikSPACE Guam; Lourdes Leon Guerrero, president, CEO and chairwoman of Bank of Guam; retired US Navy Admiral Thomas Fargo, chairman of military shipbuilder Huntington Ingalls Industries; and Dan Moffat, president and CEO of GTA TeleGuam.
Moffat will step down as president and CEO of GTA TeleGuam on 12 September but will retain his seat on the board.
In late February, AP got the green light from the Guam Public Utilities Commission to buy GTA TeleGuam. It also required the approval from the FCC, the US telecoms regulator, because Guam is a US territory.
The deal was worth US$120m. AP was advised by Deutsche Bank, while Shamrock Capital Advisors, the owner of GTA, hired Barclays Capital.
