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Millicom Accelerates Cable Expansion with Acquisition of Cable Onda in Panama

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Millicom Accelerates Cable Expansion with Acquisition of Cable Onda in Panama
Millicom announced today it is acquiring a controlling 80% stake in Cable Onda, the largest cable and fixed telecommunications services provider in Panama, Latin America's fastest-growing economy. The transaction values 100% of Cable Onda at an enterprise value of $1,460 million, with a cash consideration of approximately $1,002 million (subject to customary adjustments). The selling shareholders will retain a 20% equity stake in the company. The transaction is subject to customary closing conditions and consent from Cable Onda's bondholders, and it is expected to close by year-end 2018.

Cable Onda is the leader in Panama's broadband internet, pay-TV, fixed telephony and B2B telecommunications markets, serving more than 500,000 customers using mostly its state-of-the-art Hybrid Fibre-Cable (HFC) network. For the half-year ended June 30, 2018, Cable Onda generated revenue of $195 million and EBITDA …

Former Trump hotel in Panama City rebranded as JW Marriott

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Former Trump hotel in Panama City rebranded as JW Marriott
A luxury hotel and condominium tower in Panama City that used to bear the Trump name was formally rebranded Tuesday as the JW Marriott after a bitter dispute over control that ended with the U.S. president's family company evicted.
The 70-story, seaside, sail-shaped building is now operated under the brand of U.S. hotelier Marriott International, which took over management.
Owners and administrators unveiled the new name on a granite wall at the entrance where the Trump name was removed in March when, after a hotly contested legal fight, majority investor Orestes Fintiklis was able to oust Trump managers.
"Today is a really exciting day," said Fintiklis, a Cypriot based in Miami, making no mention of the dispute Tuesday. "We are thrilled that the administration of this iconic hotel will be taken on by JW Marriott."
The high-rise with 369 hotel rooms plus restaurants and casinos was inaugurated in a ceremony …

Shell wins LNG deal to supply Chinese firm's power plant in Panama

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Shell wins LNG deal to supply Chinese firm's power plant in Panama
Royal Dutch Shell Plc has won a long-term contract to provide liquefied natural gas to a Chinese company's 441 megawatt power plant under construction in Colon, Panama, advisors on the deal said.
The deal with a Shell trading unit comes as a trade dispute between the United States and China has put global LNG exports in the spotlight. This week, China imposed tariffs on $60 billion of U.S. goods, including a 10 percent tax on LNG imports effective Monday, in response to the U.S. slapping tariffs on some $200 billion of Chinese goods.
The deal with a Shell trading unit comes as a trade dispute between the United States and China has put global LNG exports in the spotlight. This week, China imposed tariffs on $60 billion of U.S. goods, including a 10 percent tax on LNG imports effective Monday, in response to the U.S. slapping tariffs on some $200 billion of Chinese goods.
The $900 million power project, being built …