HONG KONG--(BUSINESS WIRE)--I Squared Capital, an independent global infrastructure investment manager, has signed an agreement, through its ISQ Global Infrastructure Fund II, to acquire a 100 percent interest in Hutchison Global Communications Investment Holding Limited (HGC) from Hutchison Telecommunications Hong Kong Holdings Limited (HTHKH) for approximately HKD14.5 billion. The transaction is expected to close by October 2017.
HGC is a leading fixed-line service provider to fixed and mobile carriers, OTT service providers, corporate and business, residential and data centers in Hong Kong and around the world. Its over 1.4-million-kilometer fiber network connects to over 14,200 buildings and it is also one of Hong Kong’s largest-scale Wi-Fi service providers with over 25,000 Wi-Fi hot spots. The company’s extensive international network has four highly prized land routes into mainland China. The company extends its global reach into different continents through multiple submarine and terrestrial cable systems. Much of HGC’s revenue is under long-term contracts to a diverse base of customers, including the major mobile providers in the region.
Commenting on the acquisition, Gautam Bhandari, Partner at I Squared Capital, said: “As a premier global hub for commerce and telecommunications, Hong Kong benefits from innovative products and world class services. With I Squared Capital’s investment, HGC will continue to provide the same quality of service that mobile telecommunication providers, corporate and residential customers have come to expect. Fresh capital will also enable the company to develop new solutions to meet the ever-increasing demand for high-speed information infrastructure throughout the region and beyond.”
About HGC Group: The HGC Group is a leading fixed-line operator, IT service provider, carrier’s carrier and one of Hong Kong’s largest-scale Wi-Fi service providers. The HGC Group empowers local and overseas customers with one-stop international, carrier, corporate, data centre and residential broadband services. The HGC Group owns and runs an extensive optical-fibre network, coupled with four cross-border routes integrated with three of mainland China’s tier-one telecoms operators, plus a world-class international network. The HGC Group is committed to developing cloud computing services and offering high-speed Wi-Fi service under the “HGC On Air“ brand. HGC is a subsidiary of Hutchison Telecommunications Hong Kong Holdings Limited (stock code: 215), a group member of CK Hutchison Holdings (stock code: 1).
About I Squared Capital: I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, and transport in the Americas, Europe, and select high growth economies. The Firm has offices in New York, Houston, London, New Delhi, Hong Kong and Singapore.
