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Basalt Infrastructure Partners – Acquisition of telecom stake in the UK

Basalt Infrastructure Partners has made its first acquisition into the telecoms sector with the purchase of Isle of Man-based Manx Telecom for an enterprise value of just over GBP 300m. The deal values Manx Telecom at GBP 255.9m. Combined with its debt of GBP 63m, the deal values the company at around 12 times EBITDA of GBP 27.2m for 2018