TPG Telecom Ltd. has reached an agreement to sell its fiber assets and fixed business catering to enterprise, government, and wholesale customers to Vocus Group Ltd. for A$5.25 billion ($3.5 billion). The deal, announced on Monday, is expected to be finalized in the second half of 2025.
As part of the transaction, Vocus will provide fixed network services back to TPG. This sale marks the conclusion of TPG’s strategic review of its fiber network infrastructure. The company anticipates net cash proceeds of between A$4.65 billion and A$4.75 billion from the sale.
TPG’s CEO, Iñaki Berroeta, noted that the agreement allows TPG to create a “more focused and streamlined business with significant optionality for the optimization of our capital structure.”
Vocus, backed by Macquarie Asset Management and Aware Super, will operate over 50,000 kilometers (31,000 miles) of owned or leased fiber network post-acquisition.