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Swoop Holdings to sell fibre assets to Superloop for $1.5M
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Swoop Holdings to sell fibre assets to Superloop for $1.5M

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  • Swoop Holdings has entered into a binding agreement to sell several standalone fibre assets to Superloop for $1.5 million.
  • Net proceeds from the sale will be directed towards debt reduction and general working capital.
  • The transaction forms part of a broader strategic shift to simplify Swoop's portfolio and focus on core operations.

Swoop Holdings (ASX:SWP) has agreed to sell several standalone fibre assets to Superloop (ASX:SLC) for approximately $1.5 million.

The transaction follows the company's previously announced sale of its Melbourne Fibre Project, which currently awaits regulatory approval.

Swoop stated that completion of the asset sale is expected during the second quarter of financial year 2027.

Net proceeds from the deal will be allocated towards reducing company debt and funding general working capital.

Following the announcement, the Swoop Holdings share price was unchanged at $0.89.

The business stated that completion will result in a streamlined portfolio centred on core consumer operations.

Swoop will remain focused on delivering mobile and internet services through its Swoop and Moose commercial brands.

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