WILLEMSTAD - Liberty Latin America (LLA), the spun-off unit of Liberty Global focused on Latin America and the Caribbean, has finalised a deal to acquire 87.5 percent of Curacao-based telecommunications operator United Telecommunication Services (UTS), confirming recent reports. LLA said it acquired all the shares owned by the government of Curacao in an all cash transaction that valued UTS at USD 189 million, representing a multiple of 6 times its 2018 adjusted Ebitda. The remaining 12.5 percent stake in UTS is still owned by St. Maarten’s government. LLA added that the transaction is expected to be completed in the coming days and that it intends to finance the acquisition through existing liquidity, including incremental revolver drawings at Cable and Wireless Communications (CWC).

UTS provides fixed and mobile services to the island nations of Curacao, St. Maarten, St. Martin, Bonaire, St. Barts, St. Eustatius and Saba, serving a total of 101,000 fixed subscribers and 134,000 mobile subscribers, mostly in Curacao. It will now be merged with the existing CWC business in Curacao and integrated into LLA’s regional operations.