Egypt’s Orascom Telecom has agreed to acquire all of AAL Corporation’s interest in Globalive Wireless Management, which operates under the WIND Mobile brand in Canada, from Anthony Lacavera, the company’s majority owner, founder, chairman and CEO.
As part of the consideration to be paid to AAL, which includes cash and a continuing economic participation in WIND Mobile for AAL, the Globalive group’s fixed-line assets, including its name and trademark, will be transferred to AAL.
Upon closing, Orascom will own an indirect 99.3% interest in Globalive Wireless Management Corp.
Orascom currently holds an indirect 32% voting interest and 65.1% economic interest in Wind Mobile Canada. AAL currently holds an indirect 66.7% voting interest and 34.3% economic interest.
Lacavera, who plans to launch a new initiative, Globalive Capital, will remain WIND Mobile’s Chairman and CEO until closing, and will continue in a non-operational capacity as WIND Mobile Canada’s honorary chair.
Lacavera founded WIND Mobile in Canada in 2008. Partnering with Orascom, which is now majority owned by VimpelCom Ltd, WIND Mobile acquired spectrum in the 2008 wireless auction and launched what is now Canada’s fourth largest wireless carrier. Since that time, Wind Mobile has launched in Southern Ontario, Ottawa, Vancouver, Calgary and Edmonton and now serves 600,000 subscribers.
“Anthony Lacavera has been the face and the voice of WIND Mobile Canada” said Ahmed Abou Doma, CEO of Orascom. “I wish to pay tribute to his leadership in making WIND Mobile the official alternative to the ‘Big Three’ incumbents in Canada.”
Completion of the transactions is subject to Canadian regulatory approval of the conversion of Orascom’s non-voting shares into voting shares, which would result in Orascom holding an indirect 65.1% voting and economic interest in Globalive Wireless Management Corp. immediately before completion of the transactions with AAL Corp.
Orascom Telecom is operates GSM networks in high growth markets in the Middle East, Africa and Asia, and has a total population under license of about 449 million