Windstream has sold certain fiber assets in Minnesota to Arvig, a provider of telecommunications and broadband services. The all-cash transaction is valued at $49.5 million.
Windstream also announced that it has entered into a definitive agreement to sell additional fiber assets in Nebraska to Arvig for $11 million. The Nebraska sale is expected to close in 1Q19.
As part of the transactions, Windstream will establish a fiber network relationship with Arvig, allowing Windstream to utilize the assets to continue to sell its products and services in Minnesota and Nebraska.
“These transactions monetize latent dark fiber assets in Minnesota and Nebraska, lower capital requirements in each state and allow us to focus on our core network offerings with minimal change to our operations going forward. The structure also sets a roadmap for future fiber monetization across our footprint,” said Bob Gunderman, chief financial officer and treasurer for Windstream.
Charlesmead Advisors, LLC, acted as exclusive financial adviser to Arvig in connection with this transaction.
Windstream Enterprise Now an Approved Vendor for MiCTA Members
MiCTA has also selected Windstream Enterprise as an Approved National Vendor for network and communications solutions, available to all MiCTA members across the U.S.
MiCTA, a non-profit national group purchasing organization, selected the company after a thorough request for proposal review.
As an Approved Vendor for network and communications solutions, Windstream Enterprise can provide MiCTA members with a streamlined approach to the acquisition of network and communications solutions by identifying their requirements and negotiating source signal contracts for integrated network security, access and business continuity solutions.
