5 October 2009
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- English
Freshfields advises Russian telecoms company on US$66mn acquisition in Laos
International law firm Freshfields Bruckhaus Deringer has advised Open Joint Stock Company "Vimpel-Communications" (VimpelCom) on its approximately US$66mn acquisition of a 78% stake in Millicom Lao Co. Ltd., a Lao mobile telecommunications company. The deal values the company at US$102mn. The remaining 22% of Millicom Lao Co. Ltd. is owned by the Government of the Lao Peoples' Democratic Republic.
Completion, which is expected by year end, is subject to the satisfaction or waiver of certain conditions, including the receipt of regulatory approvals.
Mark Parsons, counsel, Freshfields Bruckhaus Deringer commented:
“This deal continues VimpelCom’s strategic expansion into emerging markets in Asia, and complements well its previous acquisitions in Vietnam and Cambodia.”
The Freshfields’ team was led by Hong Kong TMT counsel Mark Parsons and corporate partner Grace Huang and included TMT associates Na Hoom Oh, Victoria White and Maria-Luise Fellner, employment associates Som Leung and Daffy Dai, tax partner Eelco van der Stok and tax associate Robert Jean Kloprogge.
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