Freshfields plays part in creation of mobile giant
Freshfields Bruckhaus Deringer, New York-based Dewey Ballantine and South African firm Webber Wentzel Bowens all advised in mobile phone giant MTN’s $5.52bn (£3.01bn) acquisition of Investcom – a deal creating the largest mobile phone operator in Africa and the Middle East. Based in South Africa, MTN has more than 23 million subscribers across 10 African countries and also operates in Syria, Yemen and Afghanistan. It will launch in Iran this year. Dubai-based Investcom has 4.9 million customers in six African countries, Cyprus and Yemen, and recently won licences to operate in Afghanistan and the Republic of Guinea. The deal was the first-ever takeover of a Dubai-listed company. Freshfields, led by corporate partners James Wood and Bruce Embley and finance partner Edward Evans, advised MTN, which it has acted for since 2001. Webber assisted MTN on South African law, led by corporate partners Michael Fleischer and Colin Du Toit. Dewey represented Investcom, led by emerging markets partner Camille Abousleiman and corporate partner Michael Aiello.
Addleshaws, Camerons drive RAC division sale
CMS Cameron McKenna and Addleshaw Goddard advised on the £87m sale of RAC’s vehicle support division to VT Group, the support services and ship-building company. RAC’s vehicle support division has 27,000 vehicles under its fleet management, including more than 14,000 vehicles under a Ministry of Defence contract . Camerons advised VT Group, led by corporate partner Jason Zemmel. Addleshaws advised RAC Software Solutions, led by corporate finance partner Neil Woolhouse.