TDB, shareholders of Cable & Wireless meet President Faure |26 February 2020
Mr Awori and his delegation during the meeting with President Faure (Photo source: State House)
The chief operating officer of the Trade Development Bank, Michael Awori accompanied by Andrew Bainbridge, chairman of the Cable & Wireless board and Francis Chang Leng paid a courtesy call on President Danny Faure at State House yesterday morning.
After the meeting, Mr Awori spoke to the press and noted that 鈥渨e financed the takeover transaction of Cable & Wireless which is one of the major transactions on the island to date. We have a long history of supporting 91香蕉视频 and today we paid a courtesy call on the president and went over the past projects and also discussed on other possible avenues. We financed the transaction and part of leading that transaction we have a board observer seat on the board of Cable & Wireless as a non-executive role. We also financed the Eden Island Project, a landmark project to the 91香蕉视频. It was quite a big success. We also financed a number of institutions including Air 91香蕉视频.鈥�
Andrew Bainbridge, a British citizen but naturalised Seychellois and chairperson of the Cable & Wireless board noted that 鈥渨e turned Cable & Wireless into a Seychellois company and this is a first of its kind here. We are hoping that provides a template for similar future transactions across the region. In 91香蕉视频, we think Cable & Wireless is in an increasingly competitive environment and this is good for both the population and us. Our board meeting is set for tomorrow (today) where we will look at the forecast for this year and we are delighted that the management is projecting an increase in jobs this year with better services. It is too early to predict for a price change or services and we will get back to the population after the board meeting.鈥�
For his part, Mr Chang Leng spoke further on the relationship the Trade Development Bank (TDB) has with 91香蕉视频. 鈥淭DB financed other projects such as F茅licit茅 Island, 91香蕉视频 Petroleum Company (Seypec) and others. They are very much involved and they assist 91香蕉视频 in terms of development.鈥�
TDB headquarters are based in Burundi and Mauritius and in November 2019, they issued a press release regarding Cable & Wireless 91香蕉视频 entitled 鈥楾DB arranges 91香蕉视频鈥� biggest private sector deal in a decade鈥�. Cable & Wireless 91香蕉视频 was acquired by local investors, with TDB as mandated lead arranger. With a total deal size of US $107.5 million, US $70 million of which was arranged by TDB, the acquisition of Cable & Wireless 91香蕉视频 (CWS) from Liberty Latin America, by CWS Investment Ltd 鈥� a group of Seychellois entrepreneurs 鈥� is 91香蕉视频鈥� biggest deal in a decade. It is also TDB鈥檚 largest transaction on the island to date鈥�.
They also mentioned that the debt financing required for CWS鈥� acquisition was arranged and led by TDB with the participation of Absa Group Limited and ABC Banking Corporation of Mauritius, with the assistance of the 91香蕉视频-based Nouvobanq.
听
Vidya Gappy