Herbert Smith Freehills
has acted on a US$1.03bn acquisition of two Pakistan mobile towers businesses in a multinational deal involving firms from Dubai, the Netherlands, Egypt, and Malaysia.
The law firm announced Thursday it advised Axiata's infrastructure arm, edotco, on its purchase of the two businesses from Dubai-based Tower Share, and Deodar of Dutch firm Jazz. Axiata is a Malaysia-based telco giant with about 320 million subscribers across 10 countries.
"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 Mark Robinson, head of the firm's tech, media and telecoms (TMT) practice in Asia.
Robinson led the transaction and was assisted by TMT 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.
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. HSF expects the deal to be completed before the end of 2017.
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