_600x600px.jpg "Amanda Lietz")
CMS has advised Ooredoo Group, an international communications company operating across the Middle East, North Africa and Southeast Asia, on the sale of its telecom business in Myanmar to Nine Communications Pte. Ltd for an enterprise value of USD 576 million, subject to customary closing conditions, including regulatory approvals in Myanmar.
Ooredoo Myanmar, founded in 2014 and based in Yangon, is one of the leading telecom operators in Myanmar with high quality assets and a large customer base. Ooredoo Myanmar offers mobile telecommunications and Internet services to commercial and residential customers in the country.
CMS Partners Chris Watson and Valentina Santambrogio commented: “it was a real pleasure working alongside Ooredoo Group to reach a successful agreement for the sale of their Myanmar business and we wish continued success to Ooredoo Myanmar as they embark on this new chapter.”
The cross-border CMS team advising Ooredoo Group on the transaction was led by Chris Watson; Valentina Santambrogio led on the corporate M&A front. They worked alongside a multi-practice team of lawyers including Sarah Mathieson, Inna Koval, Vitalii Mainarovych, Jure Tus, Ellie Short and Sofia Sotgia (Corporate); Jacqueline Vallat, Ilana Goddard, Sandra Potlog, Aminder Khatkar (Regulatory and Commercial); and Preena Gandhi (Tax).
The CMS team had invaluable support from the Rajah & Tann colleagues in Myanmar and Singapore, led by Chester Toh and Khine Khine Zin, and including Hiroyuki Ota, Dr Min Thein and Aung Chit Min.
