Vodafone selling New Zealand unit to private equity

|About: Brookfield Asset Managemen... (BAM)|By:, SA News Editor

Vodafone (VOD -7.3%) has agreed to sell its New Zealand operation for an enterprise value of €2.1B, to a consortium of private equity.

The consortium comprises Infratil (OTC:INFTY) and Brookfield Asset Management (BAM -1.3%).

Vodafone and VFNZ will enter into a Partner Market agreement that will include use of the Vodafone brand along with preferential roaming, access to Vodafone's IoT platform and central procurement.

It expects the deal to wrap during its fiscal 2020.

VFNZ earned €1.21B in revenue during fiscal 2019, along with EBITDA of €281M.

Subscribe for full text news in your inbox