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RMB has acted as co-financial adviser to leading South African fibre provider Community Investment Ventures Holdings (CIVH) in a transaction with Vodacom that will strengthen their balance sheet and expand their fibre network through the addition of Vodacom’s fibre assets.
CIVH’s key operating brands Vumatel and Dark Fibre Africa (DFA) provide Fibre-to-the-Home (FTTH) and Fibre-to-the-Business (FTTB) networks across South Africa.
Vodacom will inject a minimum of R6 billion in cash and sell their FTTH, FTTB and transmission assets to CIVH in exchange for shares. Following the series of transactions Vodacom will hold 30% of the operating assets of CIVH. The transaction is subject to regulatory approval.
Says Gareth Armstrong, corporate finance executive at RMB: “This transaction will allow CIVH to efficiently increase their open access footprint and provide a compelling and more affordable fibre offering to South Africans, especially in the lower and middle income segments of the market”.
“In continuing our long-standing partnership, RMB is proud to have supported CIVH on this landmark transaction, taking a big step forward towards delivering a key infrastructure imperative of providing broadband connectivity to all South Africans.”
Previously, RMB advised CIVH on its acquisition of Vumatel and has more recently played a key role as co-mandated lead arranger and co-funder for a R16bn debt package for DFA and Vumatel, consolidating the debt under one structure and creating capacity for CIVH’s growth and expansion of its fibre network across South Africa. RMB is also the sole term funder for CIVH.
End
Contact:
Kate Kelly l kate.kelly@rmb.co.za l 079 637 4663
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