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Allens drives Telco deal

Allens drives Telco deal

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…

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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Allens drives Telco deal
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