10 July 2009

Freshfields advises Cosmote on acquisition of Zapp in Romania

International law firm Freshfields Bruckhaus Deringer has advised Cosmote Group on its agreement to acquire Telemobil S.A. (Zapp) from the Saudi Oger Group.
Consideration for the shares in Zapp is estimated at approximately €61m (equity value). Cosmote will also assume the debt and other liabilities of Zapp, mainly relating to 3G and CDMA network roll out, estimated at approximately €146 million. This deal marks a new cycle of growth and an expanded customer base for Cosmote Romania. The acquisition is subject, among other conditions, to the approval of relevant Romanian authorities.

The Freshfields team was led by Telecommunications, Media and Technology (TMT) partner Natasha Good and corporate partner David Crook. Natasha Good comments: ‘We are very pleased to have advised Cosmote on this deal, which is a significant milestone for Cosmote Romania's business. An important part of Freshfields’ work in South-East Europe is looking at strategic transactions for major players in countries like Greece.’

Freshfields’ team across Europe included partners Natasha Good (TMT), David Crook and Sebastian Lawson (both corporate) with Axel Reidlinger (antitrust, competition and trade) giving strategic antitrust advice. Associates included Saeran Ramaya and Neeshe Patel (both corporate); Paul Joseph (IP/IT); Chris Hastings (finance); Tom Cannon (tax) and Heinrich Kuehnert (ACT).

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