Swoop sells Sydney fibre assets to Xenith for about $4.5m
Swoop Holdings has signed a binding deal to sell its Sydney fibre to Xenith for roughly $4.5 million, the second fibre disposal to the same buyer this year. The sale needs FIRB approval and is due to complete in the third quarter of FY27.
ASX-listed Swoop Holdings will sell its Sydney fibre business to Xenith Infrastructure Group for about $4.5 million. A binding share sale agreement was signed on 23 October 2026, with the assets moving to Xenith IG Australia Holdings Pty Ltd, part of the Xenith group.
The transaction cannot close until the Foreign Investment Review Board signs off under the Foreign Acquisitions and Takeovers Act, and other customary conditions must also be met. Swoop expects completion in the third quarter of FY27, which one source defines as the period from 1 July to 30 September 2027.
Swoop said it will use the net proceeds to pay down debt and fund general working capital. It added that it does not expect the sale to disrupt operations or customer service.
Xenith is headquartered in Singapore and develops digital infrastructure, with experience owning and running fibre networks around Asia Pacific, Australia included. ARN calls the buyer a dark fibre provider.
In June, Swoop agreed to sell all the shares in Luminet Fibre, which owns the Melbourne Fibre Project, to Xenith IG Australia for $11 million. Swoop framed the Sydney sale as part of a continuing effort to extract value from non-core assets and concentrate on consumer telecommunications.
ARN links the refocus to the exit of chief executive Alex West on 7 July. In mid-July, interim chair Tony Grist told ARN he saw few further sales ahead, as "there’s not really a lot more to divest". He pointed to fibre holdings in Melbourne and Adelaide, acquired under earlier leadership, as possible disposals that were immaterial to revenue and emerging cash flow. ARN notes he did not mention Sydney.