Digicel to Fund Central American Operation with $215 million

Digicel Group will acquire 35.8% of Digicel Holdings Central America Limited (DHCAL) for $215 million.

Thursday, March 12, 2009

DHCAL is the owner of Digicel mobile phone operations in Honduras and Panama, where it began operating in November and December 2008 respectively.

The money will come from a placement of $335 million in Digicel Group corporate bonds.

Colm Delves, CEO of Digicel Group Ltd., said, "We are very happy with the agreement which will enable Digicel Limited to acquire a percentage of the Central American operations which will boost our growth in the coming years."

More on this topic

Digicel Plans to Operate in Costa Rica

June 2009

The cellular phone system operator is waiting for the bid for the licenses to enter the Costa Rican market in 2010.

The multinational already operates in El Salvador, Honduras, and Panama. It plans to make a strong investment in Costa Rica "to develop a first-class network," commented the CEO of Digicel Group, Denis O'Brien, in the context of the Forbes CEO conference in Gleneagles, Scotland, according to an article in Elsalvador.com

Costa Rica attracts Millicom and Digicel

September 2008

At the end of 2013 mobile phone services in Costa Rica will have reached at least $1,1 billion, according to calculations by market analyst, Signal Consulting.

The forecast is based on the potential created by the opening of the sector after the creation of the Telecommunications Superintendence (SUTEL), which will paved the way for the entrance of new competitors in the local market.

Digicel will have coverage in all of Central America

September 2008

The Digicel Group confirmed yesterday in Panama their decision to invest "multi-million dollar" sums of money in cellular communications in Central America.

In an attempt to shake up the main competition in the region, the investment will be carried out strongly geared towards components such as technology, equipment, and offers to consumers.

Digicel to pump US$334m in Panama operations

September 2008

The project consists of the construction and operation of a greenfield mobile cellular telephone network in Panama.

The total cost is estimated at US$334 million. The proposed IFC investment is up to US$50 million 'A' loan for IFC's own account.

The project is expected to create high-quality employment opportunities in Panama both at the company and distribution levels.

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