Tamuning, Guam and Salt Lake City, Utah - July 26, 2017
Huntsman Family Investments and its affiliates (“HFI”) announced today the closing of its acquisition of TeleGuam Holdings, LLC (dba GTA) from Advantage Partners. The transaction was recently approved by the Federal Communications Commission and the Guam Public Utilities Commission.
“We are pleased to have completed the acquisition of GTA, representing our commitment to take the company to heightened levels of growth on island and in the region. HFI is also extremely proud that several local partners have joined our family in this investment, demonstrating confidence in GTA’s continued success. Now, GTA for the first time is both locally and American owned,” said Paul Huntsman, President and CEO of Huntsman Family Investments.
Local investors include the Ada family, the Moylan family, Phil Flores, Dr. Nathaniel and Melissa Berg, Michael Ysrael and the Tenorio family of Saipan
Benjamin Wu, Partner at Huntsman Family Investments, said, “We will work closely with GTA’s management team during this transition to review and enhance strategic plans for the company. GTA will continue to be locally managed and operated.”
Latham & Watkins LLP acted as legal counsel to Huntsman Family Investments. Kirkland & Ellis LLP acted as legal counsel and Citigroup acted as financial advisor to GTA and Advantage Partners.
About Huntsman Family Investments
Huntsman Family Investments is the private investment platform for the Jon M. Huntsman, Sr. family. Headquartered in Salt Lake City, Utah, Huntsman Family Investments seeks to make direct, long-term investments in diversified industries around the globe.
For more information, please visit www.hfinvestments.com.