GTA acquired; Shamrock exits investment - KUAM.com-KUAM News: On Air. Online. On Demand.

GTA acquired; Shamrock exits investment

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by Jason Salas

Guam - The island saw some huge news this morning from the telecommunications sector, as GTA TeleGuam announced that Shamrock Capital Advisors, whose privatized the company in 2005, has withdrawn its investment in the company.  The former Guam Telephone Authority has thus been acquired by an investment concern formed by Advantage Partners, an equity fund company primarily managing interests in Japan.

Terms of the transaction were not disclosed.  

Shamrock, which manages the late Roy Disney's family fortune, initially acquired GTA five years ago for $150 million in cash, according to company officials.  The company employs about 330 staffers for its diversified wireline business systems, digital cable, wireless and Internet services.

GTA TeleGuam president and CEO Dan Moffat is excited about the new partnership and believes that AP's investment in Guam will benefit employees and customers alike.  Advantage Partners representative Richard Folsom says they believe the company is well-positioned for continued growth with its state of the art infrastructure, penetration of quadruple play offerings and macro growth from the military buildup.

GTA officials said operations at business as usual and status quo for the moment, and for the time being there are no changes expected in the composition of GTA's board of directors or executive team.

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