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BRIEF-Vodafone Malta to be combined with Melita Ltd
May 24, 2017 / 6:11 AM / 6 months ago

BRIEF-Vodafone Malta to be combined with Melita Ltd

May 24 (Reuters) -

* Apax Partners Midmarket SAS, Fortino Capital and Vodafone Group Plc to combine Melita ltd and Vodafone Malta Ltd

* Combined company’s mobile and enterprise business will operate under the Vodafone brand

* At completion, the current shareholders of Melita will own 51 percent of the Combined Company and Vodafone Europe B.V., the current shareholder of Vodafone Malta, will own the remaining 49 percent

* The transaction values Vodafone Malta at an enterprise value of 208 million euros ($232.44 million), equivalent to multiples of 6.8x EV/2016 EBITDA and 15.1x EV/2016 OpFCF

* The transaction values Melita at an enterprise value of 298 million euros, equivalent to multiples of 8.9x EV/2016 EBITDA and 15.3x EV/ 2016 OpFCF3 Further company coverage: ($1 = 0.8949 euros) (Reporting by Dasha Afanasieva)

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