VFNZVodafone New Zealand Limited
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Vodafone Group Plc ("Vodafone") has completed the sale of 100% of Vodafone New Zealand Limited ("VFNZ") to a consortium comprising Infratil Limited and Brookfield Asset Management Inc.
Vodafone and VFNZ have now entered into a Partner Market agreement, which includes use of the Vodafone brand, preferential roaming arrangements, access to Vodafone's global IoT platform and central procurement function, and a range of services for the business and consumer markets.
The consortium has agreed to acquire VFNZ for a cash consideration equivalent to an Enterprise Value of EUR2.1B, implying an FY19 LTM multiple of 7.3x adjusted EBITDA and 16.2x Adjusted OpFCF.