| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers 7 > Headlines for 72 Mobile Holdings LLC > News item |
72 Mobile Holdings plans new debt financing for purchase of Airvana
By Sara Rosenberg
New York, Dec. 18 - 72 Mobile Holdings LLC has received a commitment for new debt financing to help fund its buyout of Airvana Inc., according to a news release.
The debt financing is being led by GSO Capital Partners LP.
Other financing for the transaction will come from equity.
Under the terms of the agreement, 72 Mobile Holdings, an entity that was formed by S.A.C. Private Capital Group LLC, GSO Capital Partners, Sankaty Advisors LLC and ZelnickMedia for the acquisition, will purchase each share of Airvana common stock for $7.65 cash.
The transaction is valued at about $530 million.
Completion of the buyout is expected to occur by the end of the first quarter of 2010, subject to approval of Airvana shareholders, regulatory approvals and other closing conditions. There is no financing condition.
Airvana is a Chelmsford, Mass.-based provider of mobile broadband network infrastructure products.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.