- Millicom (TIGO, Financial) completes a partial closing of its infrastructure deal with SBA Communications, generating $600 million.
- A special dividend of $2.50 per share will be distributed, representing approximately 45% of the proceeds.
- This financial maneuver underscores Millicom's strategy of asset monetization while maintaining leverage targets.
Millicom International Cellular S.A. (TIGO) has successfully completed a partial closing of its infrastructure deal with SBA Communications, resulting in $600 million in immediate proceeds. This deal involves the sale of LATI International S.A., which holds TIGO’s mobile passive infrastructure assets in Central America. The transaction is expected to achieve a total value of approximately $975 million upon its full closing anticipated in Q3 2025.
As part of its strategic plan, Millicom will issue a special interim cash dividend of $2.50 per share, equating to roughly 45% of the net proceeds from the deal. This dividend will be distributed in two equal installments of $1.25 per share, scheduled for October 15, 2025, and April 15, 2026.
This special dividend is in addition to the company's previously announced annual dividend of $3.00 per share, aligning with Millicom's commitment to shareholder value. The infrastructure monetization reinforces Millicom's financial flexibility and sustains its target leverage ratio between 2.0-2.5x, as part of its ongoing strategy to optimize capital structure and enhance shareholder returns.
Also check out: (Free Trial)
