Ropes & Gray Advises Altice Europe on Financing Aspects of €2.5bn Telecom Tower Business Sale
Ropes & Gray has advised Altice Europe on the financing aspects of its sale of equity stakes in its telecommunication tower businesses in France and Portugal for a total cash consideration of €2.5bn.
The deal involves Altice Europe entering into exclusive negotiations with the US investment fund KKR on the sale of a 49.99% stake in its to-be-formed French tower company, which will group its 1,200 tower sites in France and valued at €3.6bn. Simultaneously, Altice Europe has entered into an agreement with a consortium composed of Morgan Stanley Infrastructure and Horizon Equity Partners for the sale of 75% stake of its newly formed Portuguese tower company, with a portfolio of 2,961 tower sites and valued at €660 million.
The Ropes & Gray team was led by finance partner Michael Kazakevich, counsel Aditya Khanna and associate Ana Biloglav, all based in London.
Franklin advised Altice on the M&A aspects of both deals.