Costa Rica News – 80% of Cabletica has been sold to a US company.
Liberty Latin America is now going to be the majority owner of this cable provider which was valued at $250 million. It has 327,000 subscribers.
The rest of the company, 20%, will remain in the hands of the current owner, Teletica. The deal was made by Televisora de Costa Rica, owner of Canal 7. It was announced on February 12.
Liberty Latin America is listed on the Nasdaq, the technology company of the New York Stock Exchange thus the company must disclose some of the details of the business purchase.
The US company explained that the purchase price of the 80% participation is subject to the usual adjustments under the agreement of the transaction. Additionally, it reported a $125 million debt owned by Cabletica. The transaction must comply with approval by Sutel to assure it will favor customers.