Lumen Technologies, Inc. (LUMN): M&A transaction — Lumen completes sale of EMEA business to Colt for $1.8B cash

Lumen Technologies, Inc.

Closed sale of EMEA operations to Colt Technology Services for $1.8B pre-tax cash.
Transaction valued at ~11x EBITDA for Lumen's EMEA business.
Lumen and Colt entered commercial agreements to continue serving global customers.
Lumen remains key strategic partner for Colt's customers in North America.
CEO Kate Johnson says deal simplifies business and positions for growth.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Lumen Technologies, Inc. completed a disposition involving Colt Technology Services Group Limited for $1.8 billion (closed 2023-11-01).

Action: disposition
Counterparty: Colt Technology Services Group Limited
Consideration: $1.8 billion
Closing: 2023-11-01

Exact text from the filing

On November 1, 2023, Lumen Technologies, Inc. (“Lumen” or the “Company”) and certain of its wholly-owned subsidiaries (collectively “Sellers”) completed the previously disclosed sale of certain of Sellers’ operations in Europe, the Middle East and Africa (the “Sale”) to Colt Technology Services Group Limited (“Colt”) and certain of its wholly-owned subsidiaries (collectively with Colt, “Purchasers”), all of which are portfolio companies of Fidelity Investments, in exchange for pre-tax cash proceeds of $1.8 billion, less closing adjustments and estimated transaction costs.

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Lumen Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-268312

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