Digcel completes bond issue, ownership transfer
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[February 28, 2007]

Digcel completes bond issue, ownership transfer

(BNamericas.com Via Thomson Dialog NewsEdge) The owner of Caribbean holdings company Digicel Group Limited (DGL), Denis O'Brien, has consolidated his ownership of Jamaica-based mobile company Digicel to 100% through a US$1.4bn bond issue, a spokesperson for the group told BNamericas.


The bond issue was five times oversubscribed, the group said in a statement.

O'Brien completed the purchase of the remaining 22% stake in the company on Tuesday, February 27.


"The response to our offering reflects the confidence in the prospects for future growth and development of Digicel," O'Brien said in the statement.

O'Brien will take ownership from the minority shareholders, which included vice chairman of Digicel Leslie Buckley, former CEOs Lucy Gaffney and PJ Mara, a Digicel spokesperson told BNamericas in an email response to questions.

"While this is a significant financial transaction for the company, in essence the strategy, leadership, board and management of the company remain the same," the spokesperson added.

The company operates in 22 markets and has a total customer base of around 4mn.

Copyright 2006 BNamericas.com

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