Press releases | Corporate and M&A | 30 Jul 2015

Zegona Communications plc Acquires Telecable de Asturias S.A. for €640m

Overview

Travers Smith LLP has advised Zegona Communications plc on the €640 million acquisition of Telecable de Asturias S.A. from The Carlyle Group.

Zegona, a company established to acquire and operate businesses in the European Telecommunications, Media and Technology sector, focusing on network-based communications and entertainment opportunities, has reached agreement with global alternative asset manager, The Carlyle Group and Liberbank, to acquire Telecable de Asturias S.A., the leading quad play telecommunications operator in Asturias, North West Spain, for an enterprise value of €640 million.

Travers Smith’s team advising Zegona on the acquisition side of the transaction was led by Head of Corporate Spencer Summerfield and corporate partner Aaron Stocks, who were supported by corporate associate Tom Coulter.

Spanish law advice was provided by Cuatrecasas, Gonçalves Pereira. Linklaters SLP acted as legal advisers to The Carlyle Group.

Commenting on the deal, Spencer Summerfield noted: “The acquisition of this leading regional telecommunications company for Zegona is a testament to the strength of our European TMT practice.  We have advised clients on the acquisitions of over 30 telecommunications companies in Europe with a combined enterprise value of over €50 billion.”

Eamonn O’Hare, Chairman and CEO of Zegona Communications plc reported: “The Travers Smith team did a fantastic job under huge time pressure, enabling us to meet every deadline set in a complex process.  Their partnership with Cuatrecasas was seamless and of great benefit to us.”