Allens has advised a consortium comprising Morrison & Co, Brookfield Asset Management and Commonwealth Superannuation Corporation on the $3.7 billion acquisition of Uniti Group.
Uniti Group Limited is the second largest fibre-to-the-premises (FTTP) provider in Australia and owns fibre broadband builders OptiComm and LBNCo, and Telstra's former FTTP business, Velocity.
'We are delighted to have supported the consortium on this significant acquisition. This is a remarkable transaction in the telecommunications sector and we look forward to seeing the business continue to support Australian connectivity,' said lead Partner Tom Story.
'This acquisition demonstrates the value long-term investors see in telecommunications fibre networks, underpinned by the ever increasing reliance by households on high-speed broadband services and the growth in data transit volumes. Uniti Group has grown quickly to become a key player in the telecommunications market and we are proud to have worked on this transaction,' said head of the Allens Telecommunications, Media and Technology practice Gavin Smith.
The deal is the latest in a sequence of large and complex digital infrastructure transactions on which Allens has advised during 2022, including the sale of TPG's passive mobile tower and rooftop infrastructure assets to OMERS, Australia Tower Network's acquisition of Axicom and the acquisition by Ontario Teachers Pension Plan Board of a 70% interest in Spark New Zealand's telecommunications towers business.
