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Billion-dollar TMT deal finalised
Herbert Smith Freehills has advised on a billion-dollar transaction between an infrastructure company and two mobile towers businesses.
Emma Musgrave
Firm: Herbert Smith Freehills (edotco Group Sdn Bhd)
Value: US$1.03 billion
Area: M&A
Key players: Australian-qualified lawyer, Mark Robinson, Herbert Smith Freehill’s head of tech, media and telecoms (TMT) - Asia - led the legal team on this transaction.
Mr Robinson was assisted by M&A senior associate Sheena Loi in Hong Kong and TMT M&A associate Mia Harrison-Kelf, and Prolegis associate Sze Min Lim in Singapore, as well as on tax issues by consultant Susan Leung in Hong Kong.
Deal significance: edotco Group Sdn Bhd is the infrastructure arm of Axiata.
The Group’s latest transaction sees it acquire two mobile towers businesses: Tanzanite, from Tower Share, as well as Deodar, from Jazz.
The former is a Dubai-headquartered mobile towers operator, while the latter is a subsidiary of Dutch company Veon and Egypt’s Global Telecom Holding S.A.E (GTH).
According to a statement from Herbert Smith Freehills, upon completion of the Deodar transaction, Deodar will enter into a 12-year master services agreement with Jazz, under which it will continue to provide tower services to Jazz.
Completion of the Deodar transaction is expected to occur before the end of 2017.
“The acquisition of approximately 13,000 towers from Jazz will make edotco the largest independent telecommunications towers operator in Southeast Asia, a transaction that boosts Axiata and edotco’s growth strategies,” said Mr Robinson.
“We are honoured to have been able to assist the companies on yet another transaction.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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