StarHub acquires full ownership of MyRepublic Broadband

It purchased the 49.9% stake in the broadband business that it did not yet own.

StarHub announced that it has completed the acquisition of the remaining 49.9% stake in MyRepublic Broadband Pte. Ltd., making the broadband a wholly owned subsidiary of Starhub.  

In StarHub’s bourse filing, the Sale and Purchase Agreement indicated that the sale of the shares was priced at $94.32m. StarHub also paid $10.87m for the operating assets. The total consideration of the sale was $105.2m.

According to StarHub, the transaction also includes the MyRepublic brand in Singapore and certain key operational assets of MyRepublic Group Limited associated with the broadband business and operations.

The acquisition will strengthen StarHub’s multi-brand, multi-segment strategy in the Singapore broadband market, and enable greater value creation through service differentiation and cross-product bundling.

“This isn’t just an acquisition. It’s an acceleration,” said Nikhil Eapen, Chief Executive of StarHub. “We’ve laid a strong foundation for growth and with MR Broadband fully under our wing, we can move faster, go further, and serve customers with even greater clarity and care.”