EQT withdraws US$ 2.3 billion buyout offer for Vocus Group
EQT Infrastructure has withdrawn the buyout offer to Austrian telecom company Vocus. EQT offered AUD 3.3 billion (US$ 2.3 billion) to Vocus, which was 35% premium to Vocus' closing share price at a time of the offer. EQT Infrastructure has decided not to proceed with the transaction after an accelerated period of due diligence.
Vocus group provides retail, wholesale and corporate telecommunications services across Australia and New Zealand. Vocus offers Data Network services like Internet, Dark Fibre, IP WAN, Unified Communications and Telephony and Cloud Services to mid, large and corporate businesses direct and also act as a wholesaler. The company owns and operates 18 Data Centres across Australia and New Zealand and has an onshore Network Operations Centre (NOC) run by the engineers who built the network.
Australian energy retailer AGL Energy Ltd also made and withdrawn the buyout offer to Vocus group a few days earlier. The reason for withdrawal was non-agreement on due diligence terms. KKR & Co Inc and Asian peer Affinity Equity Partners also made and withdrawn their buyout offer in 2017.
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