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Wednesday, April 17, 2024

CC advises Ardian on the acquisition of a majority stake in Aire Networks

Clifford Chance has advised international private equity house Ardian on the agreement reached with Magnum Capital and founders to acquire a majority stake in Aire Networks' group through its latest buyout fund

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The founders will retain a minority stake in Alicante-based telecommunications services company Aire Networks. Aire Networks provides telecommunications services for operators and companies, offering connectivity, digitalisation and digital transformation services based on cloud and neutral fibre. Reportedly, Aire Networks is a market leader in Spain and Portugal and is developing an international expansion plan.

The transaction represents Ardian’s second transaction in the telecommunications sector in Spain, following the acquisition of Adamo by Ardian’s infrastructure strategy funds in 2021.

Clifford Chance advised Ardian on all the legal aspects of the transaction, including acquisition documentation, shareholders’ arrangements, management incentive plan, regulatory, acquisition financing support and security package, and legal review exercise.

The Clifford Chance multidisciplinary team advising Ardian was led by Private Equity partner Javier Amantegui, assisted by associates Javier Montañés, Daniel García Juárez, Patricia Puertas and Beatriz Melo, and junior associates Josep Massana, Sofía Albiñana, José Jordana de Pozas and Federico Romero. The team was also formed by Regulatory counsel Carme Briera, Finance counsel María Sabau, Antitrust counsel Begoña Barrantes and associate Clara Iglesias, and Employment senior associate Jorge Martín-Fernández.

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