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Development Victoria advised on integral network sale

Development Victoria advised on integral network sale

Development Victoria advised on integral network sale

Allens has advised Development Victoria on the sale of its Fibre to the Home network.

Firms: Allens (Development Victoria); Cooper Mills (RedTrain Networks Pty Ltd)

Deal: Development Victoria has been advised on the sale of its Fibre to the Home (FTTH) network to RedTrain Networks Pty Ltd.

Value: Undisclosed

Area: M&A

Key players: The Allens legal team comprised partners Michael Graves and Mark Malinas, senior associate Elyse Adams and associate Yolanda Karantgis.

Deal significance: RedTrain is described as a licensed provider that is expanding its investment in fibre infrastructure across Victoria, while Development Victoria is described as a wholesale provider of optical fibre infrastructure.

This sale between the two parties includes the network, which sits across six of Development Victoria’s estates, as well as related assets including exchanges, according to a statement from Allens.

“We are delighted to have again worked with Development Victoria on the sale of this significant asset,” said partner Michael Graves.

“The sale will help Development Victoria improve its focus on urban renewal as well as giving consumers a greater choice of [internet service providers].”

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