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Telecommunications company proposes acquisition

Telecommunications company proposes acquisition

Costas Condoleon, Gilbert + Tobin

A national firm has advised Superloop Limited on its proposed acquisition of BigAir Group Limited for $224 million.

Firms: Gilbert + Tobin (Superloop Limited); Baker & McKenzie (BigAir Group Limited)

Deal: Superloop Limited has made a proposed acquisition of BigAir Group Limited.

Value: $224 million

Area: M&A

Key players: The Gilbert + Tobin M&A team was led by partner Costas Condoleon (pictured) and lawyers Kevin Ko, Mirela Leko, Annabel Humphreys and Megan Coffey. The Gilbert + Tobin banking team was led by partner John Schembri and lawyers Spiro Papadolias and Corrie Eames.

Deal significance: Superloop Limited (Superloop) is one of the leading independent providers of interconnection services in the Asia-Pacific region, including fibre networks in Australia, Singapore and Hong Kong.

BigAir Group Limited (BigAir) owns and operates one of Australia’s largest metropolitan fixed wireless broadband networks and provides cloud and managed services solutions to mid-sized corporates.

Superloop has made a $224 million proposed acquisition of BigAir by way of scheme of arrangement and related debt and equity raisings.

Under the proposed transaction, BigAir shareholders will be able to elect to receive either new Superloop shares or a mix of cash and new Superloop shares (subject to an overall cash cap) as consideration for the acquisition of their BigAir shares.

The deal is subject to customary conditions, including approval by BigAir’s shareholders.

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