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Axicom’s multibillion-dollar sale wraps up
Gilbert + Tobin has advised Macquarie Asset Management and its co-investors on the multibillion-dollar sale of Axicom to Australia Tower Network.
Emma Musgrave
Firms: Gilbert + Tobin (Macquarie Asset Management); Undisclosed (Axicom); Undisclosed (Australia Tower Network)
Value: $3.58 billion
Area: M&A, corporate advisory
Key players: The Gilbert + Tobin team was led by corporate advisory partners Costas Condoleon and Karen Evans-Cullen, with support from lawyers Wes Bainbridge and Andrea Bennett.
Deal significance: Australia Tower Network is owned by AustralianSuper and Singtel.
According to a statement from Gilbert + Tobin, Axicom was Australia’s largest independent mobile towers owner, operating approximately 2,000 telecommunication sites in metro and outer-metro locations across all eight states and territories, and major cities across Australia.
“We continue to see elevated demand for infrastructure assets and quality businesses like Axicom,” Gilbert + Tobin co-lead partner Costas Condoleon said.
“We are delighted to have been able to support Macquarie Asset Management and its co-investors achieve this excellent outcome.”
Co-lead partner Karen Evans-Cullen added: “We wish Australian Tower Network well on this milestone transaction, which follows a series of recent tower transactions.”
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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