Polhem Infra, a private investment firm based in Sweden, has acquired Telia Carrier from the Telia Company for SEK 9,450 million (US$1.055 billion).
Telia Company has also entered in to a long-term strategic partnership with Telia Carrier, securing continuous world-leading network solutions to Telia’s customers.
Telia Carrier holds the top position in the global ranking of companies with Internet backbone networks. Content, services and operator customers of Telia Carrier account for 65 percent of global Internet routes. Its network spans across Europe, North America, and Asia, connecting customers in more than 120 countries, with the Scandinavian footprint being particularly strong through the so-called Scandinavian Ring – the part of Telia Carrier’s network that connects major Baltic and Nordic cities. Telia Carrier has 530 employees.
For 2019, Telia Carrier reported net sales of SEK 5,388 million, an EBITDA excluding IFRS-16 of SEK 500 million (SEK 888 million including IFRS-16) and capital expenditures of SEK 396 million resulting in EBITDA, excluding IFRS-16, less capital expenditures, of SEK 104 million. The agreed price for Telia Carrier equals an EV/EBITDA, excluding IFRS-16, multiple for 2019 of 18.9x. The transaction is expected to generate a capital gain of approximately SEK 7 billion at closing.
”At this time, I want to thank the whole Telia Carrier team for building such a strong customer-centric business over many years. This transaction is great testament to the value they have created for their customers and for Telia Company’s owners. I am confident that under the continued leadership of Staffan Göjeryd, Head of Telia Carrier, Polhem Infra will be an excellent owner for Telia Carrier and that it will continue to go from strength to strength under their stewardship.”
