SYDNEY: Swoop Holdings Limited (ASX: Swp) has entered into a binding Share Sale Agreement for the sale of its Sydney-based fibre assets to Xenith IG Australia Holdings, a member of the Xenith Infrastructure Group, for aggregate consideration of approximately $4.5 million.

The transaction forms part of Swoop’s ongoing strategy to simplify its operating portfolio, realise value from non-core assets and focus on its core consumer telecommunications businesses, an announcement said.

Completion is subject to customary conditions precedent including FIRB approval pursuant to the Foreign Acquisitions and Takeovers Act, and is expected to occur in Q3 FY27.

Net proceeds from the transaction will be applied towards debt reduction and general working capital requirements. The transaction is not expected to adversely affect Swoop’s ongoing operations or the continuity of services provided to customers.

The Company remains focused on optimising its portfolio and strengthening its financial position in support of its strategic priorities.

Swoop Holdings (ASX: Swp) is a national challenger telecommunications provider, connecting mobile and NBN services for residential, business and wholesale customers across Australia.