Allen & Overy advises Cordiant Digital Infrastructure Limited on its acquisition of Emitel
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21 November 2022
Allen & Overy advised Cordiant Digital Infrastructure Limited (CDIL), a specialist investment company focused on investing in digital infrastructure assets in the United Kingdom, Europe and North America, on its acquisition of Emitel S.A. from Astatine Investment Partners.
Emitel is the largest operator of terrestrial radio and television infrastructure in Poland with a diverse portfolio of infrastructure assets. It includes over 577 communication towers which provide coverage for 99% of Poland, a blue-chip customer base of Poland’s leading mobile operator, broadcast television and radio companies as well as supporting fibre/fiber optic. The agreement to sell Emitel to CDIL was signed on 4 January 2022. As Emitel is listed among 13 Polish entities which are strictly overseen by the Polish government, acquisition of its shares required obtaining special approval from the Ministry of State Assets (MAP) – our team secured the first such clearance to be issued by the MAP for a direct acquisition of shares.
The Allen & Overy Warsaw team was led by Corporate partner Jaroslaw Iwanicki and counsel Marcin Czaprowski. Senior associate Maciej Szykut, supported by associate Jan Spierzak, secured regulatory consents from the MAP and the Ministry of the Interior and Administration, while associate Aleksandra Deszyński secured a clearance from the Office of Competition and Consumer Protection. The Allen & Overy London team was led by partners Richard Evans and Jan Skuhravy, with support from senior associates Fatima Shawaf and Tom Betts, and associate Elizabeth Shorland.
Partner Jarosław Iwanicki, who led the transaction, commented: ‘It was a great pleasure for us to assist Cordiant Digital Infrastructure in the transaction which surely is one of the most important project this year in the telecommunications sector in Poland. This transaction further strengthens our M&A practice in in Poland’.
Partner Richard Evans, co-head of the Global Infrastructure Group, commented: ‘We are delighted to have been able to deepen and broaden our relationship with Cordiant with the successful completion of this exciting transaction, which demonstrates the strength of our digital infrastructure expertise across the globe’.