Mourant Ozannes advises on US$1.86 billion telecommunications acquisition

Mourant Ozannes Hong Kong has advised Asia Cube Global Communications Limited on its winning competitive bid in the US$1.86 billion acquisition of Hutchison Global Communications (HGC).

HGC provides fixed-line telecommunications services for corporate and residential users in 134 countries and territories worldwide, utilising capacity in 33 cable systems interconnecting five continents with 25 points of presence globally, including three major hubs in Hong Kong, Los Angeles and London.

Asia Cube Global Communications Limited is wholly-owned by a fund managed by private equity firm, I Square Capital, which is an independent global infrastructure investment manager focusing on energy, utilities and transport in markets including North America and Europe. The transaction is expected to close by October 2017.

Mourant Ozannes Hong Kong Managing Partner, Paul Christopher, said: "Acquiring Hong Kong's second largest mobile network operator is a significant step for I Square Capital, and reflects the trend that we are seeing of increased private equity interest in the internet, technology and telecommunications sectors.

"Our dedicated corporate and investment funds team continues to act on the most noteworthy transactions in the Asia region, and this deal is testament to the confidence which high profile private equity funds place in our team."

The Mourant Ozannes team was led by Hong Kong Managing Partner Paul Christopher with senior associates Jessica Lee and Paul Trewartha. The team acted alongside onshore counsel Herbert Smith Freehills.