Huntsman Family Investments and its affiliates (“HFI”) have agreed to acquire GTA TeleGuam (“GTA”), a leading provider of telecommunications services in Guam, from funds serviced by Advantage Partners, a Japanese private equity firm, the company said.
The transaction is subject to federal and Guam regulatory approvals and is expected to close later this year.
GTA is a leading quadruple-play telecommunications operator providing wireless, high-speed Internet, IPTV and fixed voice services in Guam. GTA is also a part of a consortium of US and Asian telecommunications companies that are constructing SEA-US, a new submarine cable system to connect Southeast Asia and the United States via Guam.
Under US-based HFI ownership, GTA will continue to be locally managed, operated and dedicated to improving connectivity across the island and internationally.
Huntsman Family Investments recently acquired American Pacific Corporation, which supplies rocket-grade ammonium perchlorate used in rockets and missiles utilized by the Department of Defense and NASA. Paul Huntsman also recently acquired the Salt Lake Tribune Newspaper.
Latham & Watkins LLP acted as legal counsel to Huntsman Family Investments. Kirkland & Ellis LLP acted as legal counsel and Citigroup acted as financial advisor to GTA and Advantage Partners.
Huntsman Family Investments is the private investment platform for the Jon M. Huntsman, Sr. family. Headquartered in Salt Lake City, Utah, Huntsman Family Investments seeks to make direct, long-term investments in diversified industries around the globe.
GTA provides a broad array of communications services in Guam. These include Internet, wireless, advanced digital TV, local and long-distance telephone service and carrier-class data circuits. The company also operates a data center in Guam for business data storage and managed wide-area networking. Based in Tamuning, Guam, GTA is privately owned and locally managed.