Liberty Latin America (NASDAQ:LBTYA), with operations in Chile, Puerto Rico, the Caribbean and other parts of Latin America, has completed its acquisition of an 80% stake in Cabletica, a Costa Rican cable operator, from Televisora de Costa Rica S.A., which retains a remaining 20% interest. Cabletica was acquired for an enterprise value of CRC 146 billion (approximately $250 million).
Balan Nair, president and CEO of Liberty Latin America, said: "We are thrilled to have completed our first acquisition as Liberty Latin America and look forward to leveraging our capabilities and investing in Cabletica to enhance the leading products and services currently delivered to customers in Costa Rica. As we grow our operations in Latin America and the Caribbean, the combined force of our people, products and services, and world-class technology will empower all of our customers to discover and experience the endless possibilities of the digital world."
René Picado, president of Televisora said, "We are excited to join forces with an industry leader like Liberty Latin America and believe this is a great strategic fit rooted in a shared mission and culture. We have transformed communications in Costa Rica and are extremely proud of what we have accomplished. Together with Liberty Latin America, we have an exciting opportunity to further develop our portfolio of products, delivering more leading services and value to our customers."