Vietnam Infrastructure Limited Update on agreement to sell holding in SEATH (9594N)
01 November 2016 - 6:31PM
UK Regulatory
TIDMVNI
RNS Number : 9594N
Vietnam Infrastructure Limited
01 November 2016
1 November 2016
Vietnam Infrastructure Limited ('the Company' or 'VNI')
Update on agreement to sell holding in Southeast Asia
Telecommunications Holdings
Ho Chi Minh City, Vietnam - Vietnam Infrastructure Limited, the
AIM-quoted investment vehicle established to target infrastructure
and related investments within Vietnam's emerging market, has
announced a delay in the close of its previously disclosed share
sale and purchase agreement to transfer 100% of its holding in
Southeast Asia Telecommunications Holdings Pte. Ltd. (SEATH) to OCK
Vietnam Towers Pte. Ltd. Originally expected to be finalised with
sale proceeds received at the end of October 2016, VNI now expects
the transaction to close no later than the end of December
2016.
VNI Managing Director Tony Hsun commented, "This is a complex
transaction that has taken more time to close than initially
anticipated. However, we are on track to close this transaction in
the near-term."
SEATH holds 100% of VNC-55 Infrastructure JSC, Mobile
Information Service JSC and Global Infrastructure Investment JSC,
which own and lease 1,938 mobile phone base stations (BTS) and over
150 IBS to mobile network operators in Vietnam. OCK Vietnam Towers
will acquire the entire BTS business while VNI will separate the
IBS portfolio from SEATH and divest at a later stage. This
divestment is in line with VNI's strategy to divest all assets by
June 2017, and the proceeds from the transaction will be used to
make capital distributions to shareholders.
Enquiries:
Jonathan Luu
VinaCapital Investment Management Limited
Investor Relations
+84 8 3821 9930
Jonathan.luu@vinacapital.com
Joel Weiden
VinaCapital Investment Management Limited
Communications
+84 8 3821 9930
joel.weiden@vinacapital.com
Philip Secrett
Grant Thornton UK LLP, Nominated Adviser
+44 (0)20 7383 5100
philip.j.secrett@uk.gt.com
David Benda / Hugh Jonathan
Numis Securities Limited, Broker
+44 (0)20 7260 1000
funds@numis.com
This information is provided by RNS
The company news service from the London Stock Exchange
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