May 19, 2017 / 11:53 AM / 2 months ago

BRIEF-Axiata Group inks deal with M&Y Asia Telecom and Mitsui & Co Ltd

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May 19 (Reuters) - Axiata Group Bhd:

* Axiata Investments (Cambodia) entered into a share purchase agreement with M&Y Asia Telecom Holdings Pte. Ltd. and Mitsui & Co., Ltd.

* Deal for a total cash consideration of USD66.0 million

* Proposed disposal is expected to have dilutive impact to the earnings and EPS for financial year ending 31 December 2017

* Agreement for disposal by AIC of 226 ordinary shares in Axiata Holdings Limited, representing 10% capital of ACH

* Has also granted Mitsui a call option to acquire an additional 10% interest, exercisable within 12 months from the completion of deal

* Pursuant to initial sale, AIC entered into amended and restated shareholders agreement with My Asia and Southern Coast Ventures Inc Source text: (bit.ly/2pSwMJg) Further company coverage:

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