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Press Release
10 Nov 2016
Acquisition of Wharf T&T by MBK Partners and TPG Completed
Wharf T&T Builds on Current Success and Enters a New Era of Growth

Hong Kong — Nov 10, 2016 — MBK Partners, North Asia’s largest independent buyout firm, and TPG, a leading global alternative asset firm, have completed the acquisition of Wharf T&T Limited from The Wharf (Holdings) Limited on 9 November 2016. The transaction values Wharf T&T at HK$9.5 billion.

Wharf T&T is the largest purely enterprise-focused Information and Communications Technology (ICT) service provider in Hong Kong, and has an extensive fibre-optic network covering 5,100 commercial buildings and 90% of the commercial market in Hong Kong. Wharf T&T has been a trusted partner for business customers providing a rich ICT service portfolio ranging from data connectivity, high-speed internet access, IP-based voice telephony, public cloud services to complex mission-critical system integration solutions to over 53,000 enterprises in Hong Kong.

Both MBK Partners and TPG have proven track records of building world-class companies as well as successfully investing in Asian telecommunications, media and technology assets. To name a few, these include Apex Logistics, China Network Systems, Gala TV, Invoice, and Universal Studios Japan for MBK Partners. For TPG, these include Avaya, Apollo Towers, Cirque Du Soleil, Lenovo, Spotify and Uber. These are some classic examples of household or professional brands that underline their credentials.

Vincent Ma, who is currently President of Wharf T&T and will assume the position of CEO with immediate effect said, “Wharf T&T will benefit immensely from the visions and inspirations of the new owners, bringing further momentum to the company’s growth. The extensive network of strategic alliance of MBK Partners and TPG also presents Wharf T&T with an abundance of innovative products and service opportunities. Wharf T&T is well positioned to build on our current success and excel in our next phase of growth and development.”

Teck Chien Kong, Partner of MBK Partners said, “The increasing importance of Information and Communications Technology makes this an exciting stage in Wharf T&T’s development. Through this partnership among MBK Partners, TPG, and Wharf T&T, we hope to build on the company’s track record of excellence and innovation to bring even more products and services to customers, further supporting customers on their day-to-day operations.”

Ricky Lau, Partner of TPG added, “We fully support Wharf T&T’s existing core management and the highly qualified operations team. They have produced outstanding achievements and will further enhance the business with maximum flexibility in the future. Wharf T&T will be professionally managed by the current team and we are confident that the company will continue to be the trusted partner for its customers, addressing their ever-changing ICT needs.”

“The team is committed to working closely together to build an even better company that our employees, customers, and partners will all be proud of. We are very confident that, with the support of MBK Partners and TPG, the best is yet to come,” Vincent Ma added.

About WTT HK Limited (“WTT”)
WTT (formerly known as Wharf T&T) is a leading ICT service provider in Hong Kong with an aspiration of "Winning Together" with business customers. Utilising its extensive and secure Fibre-To-The-Desk (FTTD) network infrastructure, WTT provides business customers with leading-edge ICT solutions meeting their diverse business needs. WTT’s rich ICT service portfolio ranges from fibre-based high-speed business broadband, sophisticated local and international data networking, advanced IP-based voice telephony, best-in-class public cloud services, and complex mission-critical system integration solutions that aim at enabling businesses of its customers. WTT is not only committed to engaging in solid and long-term ICT partnerships with our customers but also endeavouring best-practice standards and performances, as well as contributing to corporate social responsibility in Hong Kong while doing businesses. For more information, please visit www.wtthk.com.hk.

About MBK Partners
Established in March 2005, MBK Partners is a leading local and independent North Asian private equity firm focusing on the rapid development of private equity markets in Japan, Korea and China. With investor contributions from domestic/international public pensions, company pensions, university funds, government, etc., MBK Partners has about US$10 billion in capital under management and is providing business support for positive corporate value expansion by investing in a wide range of industries for both medium and large companies, including communications/media, financial services, retail/consumer goods, business services, transport, and manufacturing. MBK Partners has a long track record investing in Asian telecom assets. Further information about MBK Partners can be found at www.mbkpartnerslp.com.

About TPG
TPG is a leading global private investment firm founded in 1992 with over USD70 billion of assets under management with offices in San Francisco, Fort Worth, Austin, Dallas, Houston, New York, Beijing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, S?o Paulo, Singapore and Tokyo. TPG’s investment platforms span across a wide range of asset classes including private equity, growth venture, real estate, credit and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of their portfolio. The firm’s investments span a variety of industries including financial services, travel and entertainment, technology, energy, industrials, retail, consumer, real estate, media and communications, and healthcare. Further information about TPG can be found at www.tpg.com.