Saturday, April 16, 2016

Axia announces takeover by private equity firm, expansion into Barnwell

Christian Davis - According to in a report dated March 9, 2016, the Axia NetMetmedia (TSX:AXX)board agreed to a $272-million takeover by Digital Connection (Canada) Corporation, which in turn essentially owned by private equity firm Partners Group. Axia operates the rural Alberta SuperNet and is involved in other similar ventures abroad. Partners Group is a global firm headquartered in Zug, Switzerland, and defines itself as "a global private markets investment manager that invests across private equity, private real estate, private infrastructure and private debt".

Axia has been soliciting interest for the possible installation of high speed fibre optic cables in Pincher Creek and other communities, most recently (April 13, 2016) announcing a fibre optic expansion to Barnwell, Alberta.

Click here for CanTech's full report.

In a press release dated April 12 Axia NetMedia Corporation said their will be a special shareholder meeting on May 6 at the offices of their legal counsel Burnet, Duckworth & Palmer LLP (Suite 2400, 525 8 Avenue SW Calgary, AB).  "At the Meeting, Shareholders will be asked to pass a resolution approving the plan of arrangement announced on March 9, 2016 (the "Arrangement") involving Axia, the Shareholders and Digital Connection (Canada) Corp. (the "Purchaser"), an entity which is owned by investment vehicles managed and/or advised by Partners Group AG, or its affiliates ("Partners Group")."

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