CWC closes acquisition of Portland-backed Columbus International
Cable and Wireless Communications Plc has completed its buy of Columbus International Inc, a diversified telecommunications company based in Barbados. The previously announced acquisition had a US$3.025 billion value, of which US$1.85 billion was the equity portion. As reported by peHUB Canada earlier this month, the deal provides an exit to the first fund of Portland Private Equity, a firm led by Canadian billionaire Michael Lee-Chin. Lee-Chin said the fund earned a 5.2x multiple on its investment. Portland is currently marketing its second fund, Portland Caribbean Fund II, which is targeted to raised US$300 million to invest in growth opportunities in the Caribbean Basin.
31 March 2015•4 mins read
