Com Hem has closed the acquisition of Boxer after having received approval from the State of Sweden and the country’s Competition Authority.
As a result, the company will be consolidated in its financial statements as of today (September 30).
The acquisition, for an enterprise vale of SEK1,330 million (€138.3 million), is expected to generate approximately SEK300 million in additional underlying EBITDA for the first 12 months to the Com Hem Group and approximately SEK200 million in Operating Free Cash Flow.
The preliminary purchase consideration of SEK1,631 million, including net cash of SEK301 million as of September 30, has been financed by SEK800 million in new credit, along with existing credit facilities and cash.
Boxer currently has around 500,000 DTT customers, mostly in the SDU market, and they will to a large extent get access to fibre over the coming years. As part of the Com Hem Group, Boxer will be able to sell fibre based broadband and TV services to its customers.
The acquisition will provide Com Hem with the opportunity to convert homes passed to homes connected in the SDU market.
The cable operator expects to reach 800,000 SDUs homes passed via fibre over the coming years, or 40% more than the current total.
