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Consortium to create NZ’s ‘largest’ independent tower company
International law firm Allens has advised a consortium comprising Northleaf Capital Partners and InfraRed Capital Partners on an investment on track to create New Zealand’s largest independent tower company.
Emma Musgrave
Firm: Allens (Northleaf and InfraRed consortium)
Value: NZ$1.7 billion
Area: Banking and finance; projects; merger and acquisition
Key players: The Allens team was led by M&A partner Mark Malinas with support from partners Chris Blane, David Donnelly, Jessica Mottau, Michael Park and Tim Stewart, senior associates Joy Yoon, Ellie Tayler, Sassica Hoolahan, Jamie Griffin, Florence Tan and Nick Swart, associates Alisha D’Souza, Harry Martin, Haddon Chang and Chathurika Ravindra, and lawyer James Hodgson.
Deal significance: According to a statement provided by Allens, the consortium acquired an 80 per cent equity interest in the network for a combined NZ$1.7 billion (with Infratil retaining a 20 per cent interest).
The deal will create New Zealand’s largest independent tower company, with 1,484 towers covering 98 per cent of New Zealand’s population, the firm said.
Commenting on the deal, Allens lead partner Mark Malinas said: “We are pleased to have advised Northleaf and InfraRed on this investment in digital infrastructure across New Zealand, a sector experiencing high M&A activity.”
Allens partner and head of projects David Donnelly added: “It’s been a big 24 months for telecommunications assets, and we expect to see fibre follow suit. We’re grateful for the opportunity to bring together our market-leading M&A, telecoms, projects and finance offerings for our clients in this space.”
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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