KKR to buy Telefonica Chile’s fiber optic network for about US$1 billion

RIO DE JANEIRO, BRAZIL – Investment firm KKR said on Monday, February 22nd, it would acquire a majority stake in telecoms operator Telefonica Chile’s fiber optic network in a deal valued at about US$1 billion.

The deal will result in the creation of Chile’s first open access wholesale digital infrastructure network, which will be open to all existing and future telecom operators in the country.

It will be controlled by KKR and Telefónica will hold a 40% stake. The transaction is expected to close in the first half of 2021, KKR said.

KKR & Co. Inc. (formerly known as Kohlberg Kravis Roberts & Co. and KKR & Co. L.P.) is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds.

The firm has completed more than 280 private equity investments in portfolio companies with approximately US$545 billion of total enterprise value as of June 30, 2017. As of September 30, 2017, Assets Under Management (“AUM”) and Fee Paying Assets Under Management (“FPAUM”) were US$153 billion and US$114 billion, respectively.