StarHub completes acquisition of MyRepublic in S$105 million deal
The telco, which owns a 50.1 per cent stake in MyRepublic, has bought the remaining 49.9 per cent, according to a media release.
The latest transaction includes the MyRepublic brand in Singapore and "certain key operational assets" that are associated with the broadband's business and operations.
The deal is worth S$105.2 million, comprising S$94.3 million for the shares and S$10.9 million for MyRepublic's assets, according to a filing on the Singapore Exchange (SGX).
"This move strengthens StarHub's multi-brand, multi-segment strategy in the Singapore broadband market and enables greater value creation through service differentiation and cross-product bundling," said StarHub.
"This isn't just an acquisition. It's an acceleration,' said StarHub CEO Nikhil Eapen, adding that the company has "laid a strong foundation for growth".
With StarHub now having full ownership of MyRepublic, the telco can "move faster, go further, and serve customers with even greater clarity and care", he added.
The acquisition comes a day after asset manager Keppel said it will sell M1's telecom operations to operator Simba Telecom for an enterprise value of S$1.43 billion (US$1.11 billion).
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