Buddle Findlay advises on sale of Vodafone NZ's mobile tower assets
25 July 2022
Buddle Findlay is proud to have assisted long-standing client Vodafone New Zealand on the $1.7b sale of its passive mobile tower assets.
The deal, which is conditional on OIO approval, involves the sale of Vodafone NZ subsidiary Aotearoa Towers to a consortium comprising InfraRed Capital Partners, Northleaf Capital Partners and existing Vodafone NZ shareholder Infratil.
Vodafone NZ, principally advised on the sale process by Bell Gully, engaged Buddle Findlay to act on a number of discrete aspects of the transaction. Banking partners Miriam Andrews and Peter Owles advised Vodafone NZ and its holding company, ICN JV, in relation to obtaining consents required from the syndicate of lenders that provided finance for the acquisition in 2019 of Vodafone NZ by Infratil and Brookfield. TMT partner Allan Yeoman advised on specific arrangements relating to particular tower sites, and Corporate partner Steve Nightingale advised on certain corporate governance matters.
The transaction is expected to complete in the fourth quarter of 2022. Vodafone NZ's announcement is available here.