Allens Arthur Robinson has acted for Telecom New Zealand (Telecom NZ) on the sale of AAPT Limited's (AAPT) consumer division and its stake in iiNet Limited (iiNet).
The transaction included a binding agreement with iiNet, advised by Middletons, under which AAPT will sell its $60 million consumer division to iiNet.
In an additional deal, Telecom NZ sold its 18.2 per cent stake in iiNet to institutional and sophisticated investors for around $70 million.
The Allens team, led by partner Ian McGill, advised Telecom NZ on all aspects of the transactions.
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