Swoop Holdings to Divest Sydney Fibre Assets
Key points
- Swoop Holdings sells Sydney-based Fibre assets to Xenith
- Sale price approximately $4.5 million
- Proceeds to be used for debt reduction and working capital
Full summary
Swoop Holdings Limited (ASX: SWP) has announced the sale of its Sydney-based fibre assets to Xenith IG Australia Holdings Pty Ltd for approximately $4.5 million. This transaction aligns with Swoop's strategy to streamline its portfolio, realize value from non-core assets, and concentrate on its core consumer telecommunications businesses. The sale is expected to close in Q3 FY27, subject to customary conditions including FIRB approval. Net proceeds will be directed towards debt reduction and general working capital needs. The company assures that the sale will not impact ongoing operations or customer service continuity.
Guidance
Sale of Sydney-based fibre assets for $4.5 million, expected to close in Q3 FY27
Outlook
Swoop Holdings remains committed to optimizing its portfolio and enhancing its financial position to support strategic priorities.
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