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<p>Facey Telcom Limited has &nbsp;now completed its
merger with Oceanic Communications Limited (OCL) and received a private equity
investment from Portland Private Equity.&nbsp;</p>
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<p>Combined the transactions will create an integrated
logistics, distribution, electronic distribution and channel management
business spanning the Caribbean, Central America and Asia Pacific and provide
significant growth capital to facilitate continued expansion.</p>
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<p>Oceanic
Communications Limited was founded in 2007 as a joint venture between Facey
Group Limited, Facey Telecom’s parent company, and Oceanic Holdings
International Limited (OHIL). OCL provides logistics, procurement,
distribution, electronic distribution and channel management services in
markets across Asia Pacific including New Zealand, Papua New Guinea, Myanmar,
Tonga, Samoa, Vanuatu and Fiji. As a result of the merger, Facey Telecom will
integrate OCL’s business. </p>
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<p>Portland Private Equity (Portland) is a private equity fund management company currently focused on private equity growth opportunities in the Caribbean, Central America, and Colombia through its management of the AIC Caribbean Fund and its successor, Portland Caribbean Fund II. Portland has completed a private equity investment in Facey Telecom the proceeds of which will be used to provide growth capital for several key strategic initiatives across its business. Following Portland’s investment, Facey Telecom will be owned jointly by Facey Group, OHIL and Portland. </p>
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<p>Facey Telecom is pleased to announce the appointment of ex- Digicel executive Jason Corrigan as the Chief Executive Officer of Facey Telecom. Jason previously served as the Chief Operating Officer for the Caribbean for the PBS Group. Niall O’Brien, CEO of Facey Group, will now also assume the position of Vice Chairman of Facey Telecom. John Edmund, previously the Finance Director of OCL, will join Facey Telecom as the Chief Financial Officer.</p>
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<p>In
speaking about the transaction P.B. Scott Chairman and CEO of the Musson Group
of Companies and Chairman of Facey Telecom remarked, “Facey Telecom’s merger
with OCL creates a large, multi-region logistics, electronic distribution and
channel management platform. We are pleased to have Portland Private Equity
join us as a partner as we work with our expanded leadership team to capture
the many growth opportunities in front of us.”</p>
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