CC, Milbank and Skadden score Permira telecom deal

Clifford Chance, Milbank Tweed Hadley McCloy and Skadden Arps Slate Meagher & Flom have landed the key roles on private equity house Permira’s acquisition of Asia ­Broadcast Satellite holding company Kingsbridge.

Simon Cooke
Simon Cooke

The deal, understood to be worth around $200m (£129m), marks the first Asian investment by the buyout firm since the start of the financial crisis.

Skadden took the lead role acting for longstanding client Permira on the transaction, with New York M&A partner Allison Schneirov and corporate partner Mark Smith advising.

Clifford Chance Hong Kong private equity partner Simon Cooke advised ­Permira on the local law aspects of the deal.

Milbank New York-based global corporate chief Alex Kaye, meanwhile, took the mandate on behalf of seller CVC International.

The deal is Permira’s third Asian investment, but the first since 2008. It is understood that the management team at Asia Broadcast Satellite, which supplies bandwidth connectivity to broadcasting and telecom customers, will retain a ­significant minority stake in the company.