TPG Telecom has announced an agreement to sell its fiber network infrastructure assets along with its enterprise, government, and wholesale fixed businesses, including Vision Network, to Vocus Group. The enterprise value of the deal is set at AUD 5.25 billion, which includes a potential contingent payment of AUD 250 million.
Upon completion of the transaction, TPG Telecom expects to gain net cash proceeds between AUD 4.65 billion and AUD 4.75 billion. The company plans to utilize these funds to support future capital management and business investment initiatives.
Post-acquisition, Vocus will manage more than 50,000 kilometers of owned or leased fiber network under a long-term usage agreement. The agreement establishes a long-term strategic partnership between Vocus and TPG, ensuring continued access for TPG to Vocus's fiber infrastructure. Further details on the arrangement are expected as the transaction completes.
