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Philippines’ cellular chief Globe Telecom will promote 5,709 mobile towers for USD1.28 billion to 2 native corporations – Frontier Tower Associates Philippines (FTAP) and Miescor Infrastructure Growth Company (MIDC). Herbert Smith Freehills (HSF) represented Globe Telecom, whereas Gibson Dunn suggested MIDC and Skadden assisted FTAP.
HSF’s crew in Singapore was led by companions Mark Robinson and Jamie McLaren, with help from counsels Victor Chiew and Kathryn Thornton, senior affiliate Theodore Heng and affiliate Pamela Wong. Kuala Lumpur-based affiliate Audrey Siew additionally helped with the transaction.
FTAP will purchase 3,529 cellular towers and MIDC will purchase 2,180.
“The Philippines telecoms market has undergone vital adjustments over latest years, with the introduction of a brand new cellular community operator and the institution of an unbiased cellular towers market,” mentioned Robinson of HSF. “It has created vital alternatives for worldwide buyers in addition to native corporations.”
Gibson Dunn’s crew in Hong Kong was led by associate Connell O’Neill and included companions Patricia Tan Openshaw and Sébastien Evrard, and associates Nate Hancock, Nick Hay and Han Yaqi. Associates Eliza Teo in Singapore and Charles Osborne in London additionally assisted on the deal.
Skadden’s crew was led by companions Jonathan Stone in Hong Kong and Rajeev Duggal in Singapore.
Globe additionally introduced the sale of an extra batch, representing the most important cellular towers transaction within the nation. As a part of the transaction, the events executed a grasp lease settlement, beneath which Globe would be the anchor lessee of the telecom towers for an preliminary interval of 15 years.
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