Clifford Chance advises on landmark $1.6b telecommunications acquisition

The acquired firm is Hong Kong’s largest purely enterprise-focused telecom service provider.

Clifford Chance advised MBK Partners and TPG Capital on their acquisition through a special purpose vehicle of Wharf T&T from Wharf Holdings.
 
A cross-practice team from the international law firm advised in the transaction which closed on Wednesday 9 November and valued Wharf T&T at HK$9.5 billion (about $1.6 billion).
 
MBK Partners is a local and independent North Asian buyout firm with more than US$10 billion (about $13.03 billion) of assets under management. TPG is a global private investment firm with more than US$70 billion (about $91.18 billion) of assets under management. Wharf T&T is Hong Kong’s largest purely enterprise-focused telecom service provider, with an extensive fibre optic network covering more than 90% of commercial customers in the region.
 
Lead partner on this transaction, Andrew Whan, comments: “We are very pleased to have worked with MBK Partners and TPG Capital on this landmark deal involving such a significant telecommunications industry participant in the region. We are delighted to have assisted in ensuring that closing was able to take place in just over one month from signing.”
 
Whan was supported by a cross-practice team comprising partners Anthony Wang (Finance-HK), Ling Ho (Litigation & Dispute Resolution-HK) and Wendy Wysong (L&DR-HK), counsel Carol Anne Tan (Corporate-SIN), consultant Lei Shi (L&DR-HK), senior associates Elizabeth Hersey (Antitrust-SYD), Michael Pallaras (Banking & Finance-HK) and Rachael O'Donnell (Corporate-HK), registered foreign lawyer Nicholas Turner (L&DR-HK), and a number of other  lawyers from the global network.
 

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