Kiribati’s Ministry of Communications, Transport, and Tourism Development (MCTTD) asked Nathan for advice on restructuring Telecom Services Kiribati Ltd. (TSKL), the government-owned provider of telecommunications services. After performing a complete technical, financial, and legal due diligence, Nathan’s experts recommended sale of TSKL to a private strategic investor.

The Cabinet of Ministers accepted the recommendation in early 2014. Nathan’s experts and partners then conducted the business valuation of TSKL and advised the government on designing the tender, on prequalifying potential bidders, and on drafting the Information Memorandum, bidding rules, and transaction documents.

On March 31, 2015, the government of the Republic of Kiribati declared Amalgamated Telecom Holdings Ltd (owner of Vodafone Fiji) the winning bidder and accepted its offer of AUD 7.5 million (US$5.7 million) in cash and assumption of TSKL’s debt of AUD 670,000 in an open and transparent process. The government completed the sale of TSKL on May 26, 2015.

Nathan and its partners advised the government during the entire process until the closing of the sale.

Details

Office

Arlington

Client

Ministry of Communications, Transport and Tourism Development (MCTTD)

Dates

2013 - 2015

Country

Kiribati

Relevant Services

Transaction Advisory Services & Project Finance Structuring

 All Projects