find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Vocus grows telecom infrastructure network

Vocus grows telecom infrastructure network

The acquisition of a national fibre network and various cable connections by Vocus has signalled a move by the telecommunication group to expand its infrastructure network.

Firms: Allens (Vocus Communications Ltd); Baker & McKenzie (Nextgen Networks; North West Cable System; Australia Singapore Cable)

Deal: Vocus Communications has successfully acquired Nextgen Networks and two fibre network development projects.

Value: $807 million

Area: M&A

Key players: The Allens team was led by corporate partner Mark Malinas (pictured), alongside corporate partner Robert Simkiss, equity capital markets co-heads Julian Donnan and Robert Pick, and competition practice lead Fiona Crosbie.

Deal significance: Vocus Communications has expanded its infrastructure network by moving to acquire Nextgen Networks and its target entities North West Cable System; Australia Singapore Cable.

The capital raising for the acquisitions is expected to have finalised this month, and completion of the acquisitions within about three months, subject to ACCC clearance.

Nextgen Networks is one of Australia's largest national fibre backhaul networks. It connects mainland capital cities with major regional centres and covers approximately 17,000 kilometres.

The NWCS is a submarine cable construction project that will connect Darwin and Port Hedland, while the ASC will connect Singapore, Jakarta and Perth.

According to a release issued by Allens, the decision to undertake a PAITREO structure was designed to optimise the potential for Vocus shareholders to either participate or have an opportunity to realise some value for their rights.

Allens partner Mark Malinas, who led the team advising Vocus on the deal, said that the acquisitions reflect a broader trend of consolidation in the telecom industry.

"We are increasingly seeing telecommunications companies acquiring long-standing broadband and infrastructure providers," Mr Malinas said.

"We are delighted to continue our relationship with Vocus as they move on to greater heights, having also advised on the Vocus and M2 merger last year," he added.

Commenting on the deal, Vocus general counsel and company secretary Ashe-lee Jegathesan said: "The Allens team, as usual, provided us with exceptional support, with very commercial and pragmatic advice. Their understanding of our business meant they were able to bring potential risks to our attention that may not otherwise have been considered, and meant that these were well mitigated."

Allens also advised Vocus on a $652 million capital raising to fund the acquisition. The capital raising took the form of a fully underwritten, accelerated renounceable entitlement offer (with retail rights trading) and a fully underwritten institutional placement.

Allens partner Mark Malinas

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Vocus grows telecom infrastructure network
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Dec 15 2017
Timing ‘critical’ in unusual contempt of court ruling
A recent case could have interesting implications for contempt of court rulings, according to a Ferr...
Dec 14 2017
International arbitration and business culture
Promoted by Maxwell Chambers. This article discusses the impact of international arbitration on t...
Papua New Guinea flag
Dec 14 2017
World-first mining case launched in PNG
Citizens of Papua New Guinea have launched landmark legal proceedings against the country’s govern...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...