お知らせ • Jul 22
KKR & Co. Inc. (NYSE:KKR) along with Tower Bridge Infrastructure Partners LP managed by Global Infrastructure Management, LLC completed the acquisition of 40.86222% stake in Vantage Towers AG (DB:VTWR) from Vodafone GmbH.
KKR & Co. Inc. (NYSE:KKR) along with Tower Bridge Infrastructure Partners LP managed by Global Infrastructure Management, LLC made an offer to entered into an agreement to acquire 40.86222% stake in Vantage Towers AG (DB:VTWR) from Vodafone GmbH for €6.6 billion on November 9, 2022. In related transaction, KKR & Co. Inc. along with Tower Bridge Infrastructure Partners LP managed by Global Infrastructure Management, LLC made an offer to acquire 18.3% stake in Vantage Towers AG (DB:VTWR) for €3 billion on November 9, 2022. The Business Combination Agreement was signed following completion of a structured bidding process which had been initiated by Vodafone Group to continuing the business strategy, adequate financing, the future corporate governance structure, employees’ interests and Düsseldorf continuing to be the headquarters even after GIP/KKR have acquired their indirect shareholding. The current management board members of Vantage Towers will continue to lead the company. Management Board and Supervisory Board of Vantage Towers welcome the long-term partnership with GIP and KK, Transaction will be subject to various customary offer conditions, including the receipt of regulatory antitrust and FDI approval. As of March 23, 2023, Vodafone Group Plc has received €4.9 billion and now holds 64% shareholding in Oak Holdings (JV) . The Consortium will increase its ownership in a Joint venture up to a maximum of 50% by June 30, 2023, which would result in total net proceeds to Vodafone of up to €6.6 billion. Proceeds from the sale will be used for deleveraging and will reduce net debt over adjusted earnings before interest, tax, depreciation, amortization, and adjusted loss by 0.1x. This is in line with Vodafone's target of operating in the lower half of its 2.25x to 2.75x leverage range.
In connection with the transaction, Rothschild & Co is acting as financial adviser to Vantage Towers, and Wilhelm Nolting-Hauff, Oliver Duys, Nikita Tkatchenko, Stefan Renner, Julia Schmitz, Lars Mesenbrink, Timo Holzborn, André Zimmermann and Christian Schröder of Orrick Herrington & Sutcliffe is acting as legal adviser to Vantage Towers. GIP and KKR are advised by Morgan Stanley as exclusive financial advisor and John Guccione, Tobias Larisch, and Conrad Andersen, Steve Curtis, Lucas Schweitzer, Seonaid Todisco and Lynsey Edgar, Otto von Gruben and Sven Nickel; Max Hauser and Jana Dammann de Chapto and Tobias Klass of Latham & Watkins as legal advisor. Christian Schwandtner, Martin Ulbrich, Markus Röhrig Jan Bonhage, Anja Balitzki and Matthias Cloppenburg of Hengeler Mueller acted as legal advisor to KKR in transaction. BofA Securities, Inc. acted as financial advisor to Vantage Towers AG in the transaction. UBS Investment Bank acted as financial advisor to Vodafone GmbH. Miriam P. Peter, Carsten Berrar and Max Birke of Sullivan & Cromwell LLP represents Morgan Stanley in the transaction. Robey Warshaw LLP acted as financial advisor to Vodafone GmbH.
KKR & Co. Inc. (NYSE:KKR) along with Tower Bridge Infrastructure Partners LP managed by Global Infrastructure Management, LLC completed the acquisition of 40.86222% stake in Vantage Towers AG (DB:VTWR) from Vodafone GmbH on July 22, 2024.