Herbert Smith Freehills has advised the financiers on the A$2 billion acquisition by a consortium of investors, led by Macquarie Infrastructure and Real Assets, of Crown Castle Australia Limited, the largest independent telecommunications tower operator in Australia.
Following a competitive bidding process, a consortium of investors led by Macquarie Infrastructure and Real Assets has acquired all shares in Crown Castle Australia Limited from its US-based parent and majority shareholder, Crown Castle International, and its New Zealand-based minority shareholder, Todd Corporation, which completion being achieved on 28 May 2015.
Herbert Smith Freehills advised a syndicate of local and international banks providing a debt package to the consortium’s acquisition group to partially fund the purchase price for the acquisition.
The Herbert Smith Freehills team was led by finance partner Joel Rennie, who was supported by Senior Associates Amelia Fleming and Daniel Lee, solicitor Celine Yim and graduate Elise Bulla, with corporate partner Damien Bailey advising on the corporate issues.
Crown Castle Australia Limited is the largest independent telecommunications tower operator in Australia, owning and operating approximately 1800 site nationwide which it leases to major telecommunications companies including Optus, Telstra and Vodafone Hutchison.
Joel Rennie said: “This was a great win for the sponsors on what was a highly competitive bid process. Achieving completion and financial close in a short period of time following execution of the sale and purchase agreement really demonstrated how well coordinated the bid was as a whole.”
Norton Rose Fulbright advised the consortium on this transaction.
Source: www.herbertsmithfreehills.com
