Wind Mobile Chairman and CEO Anthony Lacavera Speak About Company Plans

by Istvan Fekete on September 17, 2014

Starting yesterday, the Russian VimpelCom has officially ended its foray into the Canadian wireless market: it sold all its direct and indirect debt and equity interests in Wind Mobile to Globalive Capital, a firm owned by Anthony Lacavera.

While the transaction terms were being sealed, Globalive confirmed to the Financial Post that it had agreed to pay $285 million to take full ownership of Wind Mobile. Globalive was backed by a consortium of investors such as West Face Capital, Tennenbaum Capital Partners, LG Capital Investors, Serruya Private Equity, and Novus Wireless Communications.

“With stable, long-term ownership and secure financing, WIND Mobile is moving into an exciting new phase,” said Mr. Lacavera. “WIND Mobile is now poised to continue to bring True Mobile Freedom to Canadians for many years to come.”

“The federal government’s delivery on its promise to create the conditions for viable long-term wireless competition has not gone unnoticed by the investment community,” said Greg Boland, President and Chief Executive Officer of West Face Capital. “We and our partners are pleased to invest in this transaction and we are excited by the future of WIND Mobile.”

Speaking with the Financial Post, Wind Mobile’s (new) owner Anthony Lacavera said the carrier has no immediate plans to merge or consolidate with another players as a result of the ownership restructuring announced yesterday.

“It’s business as usual,” Wind chairman and CEO Anthony Lacavera told the Financial Post Tuesday. Although the company has held discussions with potential partners in the past, “our business plan is to be an independent long-term viable wireless carrier,” he said.

The widely anticipated deal is expected to help cement the carrier’s position in the Canadian wireless market and improve Wind’s fortunes in its battle against the incumbents. Speaking with the newspaper, Lacavera confirmed earlier rumours of Wind–Quebecor talks, but quickly added that “there is no deal of plans for any deal” in the near future.

Now, that Lacavera controls Wind Mobile, he is looking forward to the upcoming AWS-3 spectrum auction, as it could increase the carrier’s potential and feed its needs for more spectrum to deploy its LTE network.

For its part, VimpelCom is selling its interest in the Canadian company for about $135-million and will also be released from substantial debt obligations as part of the deal. Globalive and its partners are assuming about $150-million worth of debt.

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Written by: Istvan Fekete. Follow by: RSS, Twitter, Facebook, or YouTube.

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