Preliminary merger discussions underway
Trilogy International Partners Inc. announces preliminary merger discussions of 2degrees and Orcon Group
BELLEVUE, WA., October 8, 2021 -- Trilogy International Partners Inc. (“TIP Inc.”) (TSX: TRL), an international wireless and fixed broadband telecommunications operator announced today that it has entered into exclusive discussions with Macquarie Asset Management and Aware Super to assess whether a merger of Two Degrees Group Limited (“2degrees”) and Orcon Group Limited (“Orcon Group”), can be agreed on satisfactory terms. Trilogy is the majority owner of 2degrees. Orcon Group is owned by Vocus Group Limited (“Vocus Group”), which was previously listed on the ASX and acquired by Macquarie Asset Management and Aware Super in July 2021.
The potential merger would bring together 2degrees’ and Orcon Group’s complementary assets across mobile, broadband and fixed line services. With a shared challenger mindset, 2degrees and Orcon Group would create an integrated fixed-mobile business of scale, providing better service to customers in New Zealand’s mobile and fixed telecommunication markets.
Any combination of 2degrees and Orcon Group would be subject to required regulatory approvals, the satisfactory completion of due diligence, and the negotiation of final terms and definitive documentation. There can be no assurance that any transaction will be completed as described above or at all.
TIP Inc., Macquarie Asset Management and Aware Super have agreed to pause the public listing preparations of their respective subsidiaries while they discuss the potential merger.
Trilogy and 2degrees are being advised by Montarne, and Macquarie Asset Management, Aware Super and Vocus Group are being advised by UBS.
About Trilogy International Partners Inc.
TIP Inc. the parent company of Trilogy International Partners LLC (“Trilogy”), a wireless and fixed broadband telecommunications operator formed by wireless industry veterans John Stanton, Theresa Gillespie and Brad Horwitz. Trilogy's founders have an exceptional track record of successfully buying, building, launching and operating communication businesses in 15 international markets and the United States.
Trilogy currently provides wireless communications services through its operating subsidiaries in New Zealand and Bolivia. Its head office is located at 155 108th Avenue NE, Suite 400, Bellevue, Washington, 98004 USA.
For more information, visit www.trilogy-international.com.
About Vocus Group Limited
Vocus is an Australian specialist fibre and network solutions provider, with highly strategic and well-invested infrastructure that includes a trans-Tasman fibre network connecting all capitals with Asia and the USA. The total Vocus terrestrial network is c. 30,000 route-km of high performance, high availability fibre-optic cable. Orcon Group, a fully-owned subsidiary of Vocus, is an integrated New Zealand telecommunications and energy business with a nationwide fibre network and modern technology platforms.
For more information, visit www.vocus.com.au
Click HERE for full Trilogy Announcement and cautionary Statements