Hawaiian Telcom’s $650 Million Sale

Cleary Gottlieb is representing UBS Securities LLC, as financial advisor to Hawaiian Telcom in its sale to Cincinnati Bell in a cash and stock transaction valued at approximately $650 million, including the assumption of net debt. 

The sale, announced July 10, 2017, is expected to close in the second half of 2018, subject to satisfaction of customary closing conditions, including federal and state regulatory approvals and the approval of Hawaiian Telcom’s stockholders.

Hawaiian Telcom is Hawai’i’s technology leader, providing integrated communications, broadband, data center and entertainment solutions for business and residential customers. With roots in Hawai‘i beginning in 1883, the Company offers a full range of services including Internet, video, voice, wireless, data network solutions and security, colocation, and managed and cloud services supported by the reach and reliability of its next generation fiber network and a 24/7 state-of-the-art network operations center.

Cincinnati Bell Inc. provides integrated communications solutions—including local and long distance voice, data, high-speed Internet and video—that keep residential and business customers in Greater Cincinnati and Dayton connected with each other and with the world.  In addition, enterprise customers across the United States rely on CBTS, a wholly-owned subsidiary, for efficient, scalable office communications systems and end-to-end IT solutions.