Advanced Television

Com Hem acquires Boxer

June 8, 2016

Com Hem has entered into an agreement to acquire Boxer TV-Access, a pay-TV operator in Sweden, and a wholly-owned subsidiary of Teracom, for an ‘enterprise value’ of SEK 1,330 million (€144m).

Boxer is the pay TV operator in the DTT network in Sweden with approximately 500,000 subscribers predominantly in the SDU market. The fibre expansion in the SDU market has over the last years put pressure on Boxer’s customer base. The Com Hem SDU expansion programme aims to enable Boxer to sell market leading bundled broadband- and TV-services to its customer base.

The total consideration for the Boxer transaction is SEK 1,550 million (based on balance sheet as per March 31st 2016), payable in cash at closing. Including Boxer’s net cash position of approximately SEK 220 million (as per March 31st 2016), the acquisition is expected to impact Com Hem’s net debt position by approximately SEK 1,330 million. The acquisition will be financed by a new three year SEK 800 million credit facility with Swedbank and existing unutilised credit facilities.

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