Texas-based fibre provider Transtelco has launched a bid to acquire 100 percent of the shares of Mexican operator Maxcom Telecomunicaciones for a total of around MXN 608 million.
Maxcom Telecomunicaciones informed the Mexican Stock Exchange (BMV) that Transtelco Acquisition III began a forced public acquisition offer on Friday for up to all of the shares of the Mexican company.
The period of the Equity Tender Offer, under the LMV and the Regulations and, in terms of the corresponding Offering Memorandum, will be 20 business days, which may be extended by the Offeror at its sole discretion, complying with the requirements of the Law. The Equity Tender Offer period is expected to conclude, if not extended, on October 21, 2021.
According to a press release, Transtelco last week launched a cash tender offer to buy the outstanding principal amount of the 8% Senior Secured Notes due 2024 issued by Maxcom, as well as a solicitation of consents to amend the indenture governing the foregoing under the terms and subject to the conditions outlined in the Notes Tender Offer and Consent Solicitation Statement made by Transtelco, as of September 23, 2021.
The Notes Tender Offer and Consent Solicitation will remain in effect until October 21, 2021, unless extended at the request of Transtelco.
Furthermore, the successful conclusion of the Equity Tender Offer is conditioned upon the successful completion of the Notes Tender Offer and vice versa, among other conditions.