LILAK - Lila's Cable & Wireless Panamá to acquire América Móvil's Panama operations for $200M

Liberty Latin America (LILA +0.8%) announced that its 49%-owned subsidiary Cable & Wireless Panamá S.A. has agreed to acquire América Móvil S.A.B. de C.V.’s operations in Panama, Claro Panamá at an enterprise value of $200M on a cash- and debt-free basis. The acquisition is intended to be financed using cash and incremental borrowings at Cable & Wireless Panamá. The transaction is expected to close in the first half of 2022. The valuation for the acquisition is consistent with company's disciplined approach towards M&A and will be free cash flow accretive on a per share basis. For FY2020, Claro Panamá generated $157M of revenue and as of June 30, 2021, the business had 760K mobile subscribers.

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Lila's Cable & Wireless Panamá to acquire América Móvil’s Panama operations for $200M