Transaction|June 28, 2013
Teachers' completes acquisition of majority stake in Australian telecom companies
Torys acted as counsel to Ontario Teachers' Pension Plan Board with a team that included Karrin Powys-Lybbe, John Cameron, Jackie Taitz and David Leith.
On June 28, 2013, Ontario Teachers' Pension Plan (Teachers') announced it completed the acquisition of approximately 70% of three Australian telecommunications companies from Leighton Holdings Limited (Leighton).
The acquisition of Nextgen Networks, Metronode and Infoplex values 100% of these businesses at A$885 million. Nextgen manages high-speed, carrier-grade fibre network services; Metronode provides data centre and related value-added services; and Infoplex provides cloud and ICT services.
The businesses have been brought together under a new ownership structure and have been rebranded as the Nextgen Group. Leighton, based in Sydney, will retain an approximately 30% ownership share in the Nextgen Group, which will remain headquartered in Australia with existing management remaining in place.
Ontario Teachers' Pension Plan, headquartered in Toronto, is the largest single-profession pension plan in Canada.
Leighton Holdings Limited is the parent company of the Leighton Group, one of the world's leading international contractors. The Group is also the world's largest contract miner.
Further information can be found on Teachers' website.
The acquisition of Nextgen Networks, Metronode and Infoplex values 100% of these businesses at A$885 million. Nextgen manages high-speed, carrier-grade fibre network services; Metronode provides data centre and related value-added services; and Infoplex provides cloud and ICT services.
The businesses have been brought together under a new ownership structure and have been rebranded as the Nextgen Group. Leighton, based in Sydney, will retain an approximately 30% ownership share in the Nextgen Group, which will remain headquartered in Australia with existing management remaining in place.
Ontario Teachers' Pension Plan, headquartered in Toronto, is the largest single-profession pension plan in Canada.
Leighton Holdings Limited is the parent company of the Leighton Group, one of the world's leading international contractors. The Group is also the world's largest contract miner.
Further information can be found on Teachers' website.