StarHub subsidiary to acquire majority stake in MyRepublic Broadband

A loan of $105m will be used to pay MR HoldCo's existing debt.

Starhub Ltd. announced via a press release that its subsidiary, StarHub Online Pte. Ltd., entered into a share purchase agreement with MyRepublic Group Limited and MyRepublic Holdings Ltd (MR HoldCo).

The agreement covers a majority interest in MyRepublic Broadband Pte Ltd. These provide broadband services in Singapore for both residential and enterprise customers (MR Singapore Broadband Business)

MR GroupCo has agreed to sell the shares in the share capital of MyRepublic Broadband Pte. Ltd., which represents around 50.1 per cent if the issued share capital of NewCo.

Currently, the MR Singapore Broadband Business is a division of MyRepublic Limited. As a condition of the proposed transaction, the MR Singapore Broad Business will be transferred from MR SG to New Co.

A bridging loan of $105m will be extended by StarHub Online Pte. Ltd to MR HoldCo for the repayment of the company’s existing debt.

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