Telecom Trilogy International Partners, a company that runs telecom networks in New Zealand and Bolivia, plans to launch in Canada through an agreement by Toronto-based Alignvest Acquisition.
Trilogy is a private company founded by U.S. wireless entrepreneur John Stanton. Late Tuesday, Trilogy revealed plans to pay down its debt and create a new Toronto Stock Exchange listing that values its enterprise business at $1 billion CAD.
This transaction has Alignvest, a special purpose acquisition company (SPAC), and its backers investing $269 million USD in Trilogy to secure a 50.1 percent stake in the company. This transaction also includes cash raised when the company went public last year as well as $61 million in new capital from Alignvest management and its backers.
If the deal goes through, it’s expected that Alignvest chairman and former CEO of Rogers Communications, Nadir Mohamad, Wind Mobile’s former CEO and current president of Globalive Capital Anthony Lacavera, and Joe Natale, “proposed president” and CEO of Rogers communications and former president and CEO of Telus, will be added to Trilogy’s board of directors.
Trilogy owns 2degress and NuevaTel, the third largest telecom companies in New Zealand and Bolivia, two markets that according to The Globe And Mail, resemble the stage where Canada’s wireless industry was 10 years ago.
John Stanton, Trilogy’s current Chairman and Brad Horwitz, Trilogy’s current CEO have played a significant role in creating a number of large wireless operators, including Western Wireless, T-Mobile USA, McCaw Cellular and Clearwire.
[source]Market Wire[/source][via]The Globe and Mail[/via]
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