Clifford Chance

Clifford Chance advises newly established and independently managed Digital Infrastructure Vehicle (DIV) as Deutsche Telekom and Cellnex become anchor investors and combine tower business in the Netherlands

International law firm Clifford Chance advised Digital Infrastructure Vehicle (DIV) in the context of the agreement between Deutsche Telekom AG (Deutsche Telekom) and Cellnex Telecom S.A. (Cellnex) to merge their respective Dutch mobile communications infrastructure companies into Cellnex Netherlands BV with DIV acquiring approximately a 38% interest in the merged business. Both Deutsche Telekom and Cellnex will become anchor investors in the newly established and independently managed DIV, an investment fund focused on European digital infrastructure.

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Lead partner Gregory Crookes comments: "We were delighted to be able to support DIV in this complex transaction by bringing together a multi-disciplinary team showing once again our combined strength acting for financial investors in the telecom and tech sector."

The Clifford Chance team was led by M&A partner Gregory Crookes and further consisted of Rona Nisar, Pieter Leefers, and Lisa Ye (corporate/M&A), Frans Muller and Celine Vermeulen (antitrust), Michiel Sunderman and Rocco IJsselmuiden (tax), Jaap Tempelman, Andrei Mikes and Orsolya Gondos (TMT/commercial contracts), Liesbeth Buiter, Lotte de Bruin, Mariam Al-Zubaidy and Lotte van den Berg (real estate), and Mark-Jan Arends and Leen Kranenburg (notarial).