July 8, 2021 |
BTG Pactual agreed to pay BRL12.9 billion ($2.47 billion) to buy the special purpose entity (SPE) that holds the fiber optic assets of financially troubled telecommunications company Oi after being the sole bidder at an auction on Wednesday.
BTG put together the bid with GlobeNet, a subsea telecommunications cable operator owned by the investment bank, to acquire 59.7% of InfraCo.
Oi had entered exclusive talks to sell the SPE to BTG in February and said it accepted the offer in April. The Rio
Brazilian investment bank offers $2.5 bln as the sole bidder in an auction on Wednesday