Linklaters has advised Vodafone on its strategic partnership with a consortium of long-term infrastructure investors led by Global Infrastructure Partners (GIP) and KKR. To this end, Vodafone will contribute its stake in Vantage Towers, a leading tower company in Europe, to the joint venture.

The transaction is subject to regulatory approvals. In the course of the transaction, a takeover offer will be made to the outside shareholders of Vantage Towers at an offer price of EUR 32 per Vantage Towers share. As part of the transaction, a Business Combination Agreement was concluded with Vantage Towers. It is further intended to implement a domination and profit and loss transfer agreement with the bidder as dominating entity and Vantage Towers as dominated entity and/or, if a shareholding of 95% of the share capital is reached, a squeeze-out of the minority shareholders of Vantage Towers.

Linklaters is advising with a cross-border and cross-sector team led by Kristina Klaaßen-Kaiser (Partner, European Head of Corporate/M&A, Düsseldorf), Stephan Oppenhoff (Partner, Corporate/M&A, Frankfurt) and Dr Christoph van Lier (Counsel, Corporate/M&A, Düsseldorf).