Simpson Thacher leads Apax consortium to victory in TDC auction
Simpson Thacher & Bartlett (Micheal Wolfson) and Danish firm Bech-Brunn (Soren Meisling, Philip Risbjorn) are advising the Apax-led consortium that won the TDC auction. Danish telecoms operator TDC accepted a €10.2bn (£6.9bn) bid on 29 November from Nordic Telephone Company (NTC), the bidding vehicle established by a consortium comprising Apax, Blackstone, Kohlberg Kravis & Roberts, Permira and Providence. It is understood that NTC beat a rival bid from a consortium made up of Apollo, BC Partners, Cinven and Silver Lake. Rival Swisscom was also mooted as a potential purchaser. Clifford Chance (Keith Hyman) and Danish firm Kromann Reumert are acting for longstanding client TDC.
US trio scoop roles on Eutelsat Euronet flotation in Paris
The Paris offices of Latham & Watkins, Shearman & Sterling and Sullivan & Cromwell acted on the 1 December flotation of satellite operator Eutelsat on Euronext. Shearman partners Aline Cardin, Niels Dejean, Hervé Letréguilly and Sami Toutounjii acted for the company, while Sullivan partner Gauthier Blanluet advised global coordinator and lead bookrunner Goldman Sachs and Latham represented shareholder Spectrum. The funds raised through the IPO will go towards reducing the company’s net borrowings.
Skadden is Australian government’s primary adviser on Telstra sale
Skadden Arps Slate Meagher & Flom (Adrian Deitz, Phyllis Korff, Robert Williams) has scooped the role of international adviser to the Australian government on the sale of its remaining stake in telecommunications giant Telstra. Australian firm Freehills (Philippa Stone) is advising on domestic aspects. The estimated A$19bn (£8.19bn) sale hinges on the performance of the telco’s struggling share price.
Shearman stears Deutsche Bahn through BAX acquisition
Shearman & Sterling acted for rail operator Deutsche Bahn in a $1.12bn (£646.4m) acquisition of US logistics company BAX from the Brink’s Company. The purchase expands Deutsche Bahn’s logistics activities in Asia and the US ahead of its planned IPO in the next two to three years. Cravath Swaine & Moore and Slaughter and May represented Brink’s.