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ChinaTel inks $640 million in equity investments
The deals allow the Irvine-based company to move ahead with global expansion plans.
By Ashly McGlonePublished: February 10, 2010 08:50 AM
Looking toward worldwide expansion, Irvine-based wireless broadband provider ChinaTel Group inked two equity investment deals, selling nearly half of its outstanding shares.
The share price in both transactions was $3, with a total purchase of $640 million, valuing ChinaTel in excess of $1.33 billion.
Hong Kong-based Excel Era Limited purchased $480 million in shares, or 36 percent of outstanding shares. And Canadian-based investor Isaac Organization Inc., which had previously served as a ChinaTel strategic advisor, purchased $160 million, or 12 percent.
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The share price in both transactions was $3, with a total purchase of $640 million, valuing ChinaTel in excess of $1.33 billion. Hong Kong-based Excel Era Limited purchased $480 million in shares, or 36 percent of outstanding shares. And Canadian-based investor Isaac Organization Inc., which had previously served as a ChinaTel strategic advisor, purchased $160 million, or 12 percent. NEXT PAGE >> Related headlines PSKW & Associates buys Triax Media Lake Forest's Panasonic Avionics inks deal with Sichuan Airlines Irvine's Broadcom buys tech firm for $123 million |
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