Minter Ellison advises TPG on agreement to acquire Telecom New Zealand

Minter Ellison has provided legal advice to TPG, which has entered into a binding sale agreement to acquire 100 per cent of Telecom New Zealand Australia, which owns the AAPT and Powertel businesses.

The consideration is AUD450m (£250m) on a debt-free, cash-free basis. TPG will fund the acquisition by increasing and extending its existing debt facility, and the transaction is scheduled to complete on 28 February 2014.

Minter Ellison advised TPG on the structuring and negotiation of the transaction. The team was led by M&A partner Costas Condoleon and commercial and regulatory partner Anthony Borgese, with senior associate Christopher Jordan and lawyer Maryanne Hamilton.