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BRIEF-Vocus Communications acquires assets from CIMIC Group subsidary for A$861 million

Published 29/06/2016, 09:52 am
© Reuters.  BRIEF-Vocus Communications acquires assets from CIMIC Group subsidary for A$861 million
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June 29 (Reuters) - Vocus Communications Ltd VOC.AX :

* Vocus announces acquisition of NextGen and capital raising

* Deal for upfront consideration of A$807 million, deferred consideration of up to A$54 million

* Expects about A$30 million cost synergies per annum

* Acquisitions funded via entitlement offer of A$452 million, institutional placement of up to A$200 million

* Acquisition of NextGen Networks to be high single digit EPS accretive on pro-forma FY17F basis

* Offer price under entitlement offer is A$7.55 per new share

* Sees Q4'FY16 underlying EBITDA to be in range of A$95 - A$100 million

* Sees FY 2016 revenue in the range of A$820 - A$835 million

* Sees FY 2016 underlying EBITDA in the range of A$213 - A$218 million

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SYDNEY, June 29 (Reuters) - Australian telecom company Vocus Communications Ltd VOC.AX said Wednesday it would acquire fibre network owner Nextgen Networks and other assets from infrastructure giant CIMIC Group CIM.AX for up to A$861 million ($636.97 million).

Vocus said it would fund the offer with a A$452 million 1-for-8.9 entitlement offer and a A$200 million institutional share placement. ($1 = 1.3517 Australian dollars)

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