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Clifford Chance advises on landmark HK$9.5 billion telecommunications acquisition

10 November 2016

Clifford Chance advises on landmark HK$9.5 billion telecommunications acquisition

A cross-practice team from leading international law firm Clifford Chance has advised MBK Partners and TPG Capital on their acquisition through a special purpose vehicle of Wharf T&T from Wharf Holdings. The transaction closed on Wednesday 9 November and valued Wharf T&T at HK$9.5 billion.

MBK Partners is a leading local and independent North Asian buyout firm with more than USD10 billion of assets under management. TPG is a leading global private investment firm with more than USD70 billion of assets under management. Wharf T&T is Hong Kong’s largest purely enterprise-focused telecom service provider, with an extensive fibre optic network covering more than 90% of commercial customers in the region.

Lead partner on this transaction Andrew Whan offers, "We are very pleased to have worked with MBK Partners and TPG Capital on this landmark deal involving such a significant telecommunications industry participant in the region. We are delighted to have assisted in ensuring that closing was able to take place in just over one month from signing."

Mr Whan was supported by a cross-practice team comprising partners Anthony Wang (Finance-HK), Ling Ho (L&DR*-HK) and Wendy Wysong (L&DR-HK), counsel Carol Anne Tan (Corporate-SIN), consultant Lei Shi (L&DR-HK), senior associates Elizabeth Hersey (Antitrust-SYD), Michael Pallaras (Banking & Finance-HK) and Rachael O'Donnell (Corporate-HK), registered foreign lawyer Nicholas Turner (L&DR-HK), and a number of other  lawyers from the global network.

* L&DR: Litigation & Dispute Resolution