OTPP’s Nextgen Group to sell network assets to Vocus Communications

June 29
14:32 2016

Nextgen Group, a Melbourne, Australia-based network connectivity provider, has announced it has agreed to sell its network assets to Vocus Communications Ltd. The acquired assets will include Nextgen’s North West Cable system and the planned Singapore Cable. Nextgen Group is owned by the Ontario Teachers’ Pension Plan (71 per cent) and CIMIC Group Ltd. (29 per cent).
OTPP, which acquired Nextgen in June 2013, will retain ownership of the group in partnership with CIMIC following the sale. The proposed sale is subject to ACCC clearance and other customary conditions.

No financial terms were released.

Related Articles

SIGN UP FOR DAILY DEALS AND NEWS UPDATE

CVCA Events

CVCA on Twitter