Impsat Goes For $336 Million

Argentina-based telecoms company Impsat has been sold to US-based Global Crossing, a company that provides telecoms solutions, in a deal worth $336 million. Global Crossing, registered in Bermuda, will pay $9.32 per share in an all-cash transaction, said Impsat in a released statement. The deal will see Global Crossing pay $95 million in cash and assume $241 million of debt. “The acquisition has been unanimously approved by the Board of Directors of Impsat”, continued the release, adding that shareholders representing just short of a third of the common stock of the company had supported the transaction. Impsat has operations in Argentina, Brazil, Venezuela, Ecuador, Chile, Peru and Colombia in Latin America.