Paul, Weiss client Grain Management announced that it has signed agreements to acquire wireless spectrum from AT&T and Verizon Wireless for an aggregate purchase price of roughly $290 million. The deal is part of a larger $1.9 billion transaction for the exchange of wireless spectrum between AT&T and Verizon Wireless. The transaction is subject to regulatory approvals.

Paul, Weiss client NAV CANADA, manager of the second-largest air navigation service in the world by traffic volume, has entered into an agreement finalizing the terms of its participation in Aireon LLC, a joint venture with Iridium Communications, Inc. The agreement provides for NAV CANADA to acquire up to a controlling interest in Aireon, currently a wholly owned subsidiary of Iridium. Under the agreement, NAV CANADA will purchase Series A Preferred membership interests representing up to 51% of the fully diluted equity of Aireon, for an aggregate total investment of up to $150 million.

Paul, Weiss client TowerCo completed the second of two scheduled closings in connection with its purchase of telecommunications towers from i wireless, a regional wireless communications provider. The aggregate consideration for the acquisition of the tower portfolio was $45.5 million in cash, subject to certain post-closing prorations and adjustments. The transaction includes a long-term lease agreement for TowerCo to provide i Wireless with wireless communications towers to support the company's GSM network.

Paul, Weiss client Asia Satellite Telecommunications Company Limited (AsiaSat) disposed of its entire interest in SpeedCast Holdings Limited, the Hong Kong-based network and satellite communications service provider, to SpeedCast Acquisitions Limited, which is owned by leading global private equity firm TA Associates.

Paul, Weiss advised Soros Fund Management in connection with the closing of its investment in Quattro Consultoria em Telecomunicações, a wireless broadband network provider in the state of Sao Paulo, Brazil. Soros completed its initial investment in the form of a loan in March 2012.  Following receipt of regulatory approval of the investment, the closing involved conversion of the loan into equity, with an additional equity investment by Soros. The investment represents Soros' initial entry into a growing market in Brazil.

As reported by Bloomberg, Paul, Weiss advised Oak Hill Capital Partners LP in an agreement, along with GI Partners LLC and members of WaveDivision Holdings LLC's management, to buy WaveDivision Holdings for an undisclosed price. The transaction is expected to close in the fourth quarter of 2012.

Paul, Weiss represented the initial purchasers, led by Bank of America Merrill Lynch, RBC Capital Markets, Scotiabank and Citigroup, in connection with Videotron Ltd.'s high yield offering of $800 million aggregate principal amount of 5% Senior Notes due 2022. The offering was conducted in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S.

Paul, Weiss advised Soros Fund Management in connection with its investment in Quattro Consultoria em Telecomunicações, a wireless broadband network provider in the state of Sao Paulo, Brazil. Soros completed its initial investment in the form of a loan with additional equity investments to follow once regulatory approval is obtained. The investment represents Soros' initial entry into a growing market in Brazil.

Oaktree Capital Management LP announced that its portfolio company, Mobilitie Investments, an owner/investor and lessor of capital assets to global telecommunications companies, has agreed to sell assets amounting to $1.09 billion to wireless tower operator SBA Communications Corporation. The sale will include more than 2,300 tower sites in the U.S. and Central America as well as indoor and outdoor distributed antenna system assets in Chicago, Las Vegas, New York and Alabama.

As reported in Market Watch, Paul, Weiss client Ericsson announced on January 12, the acquisition of Telcordia Technologies from Warburg Pincus and Providence Equity Partners, LLC for $1.15 billion. The acquisition is expected to boost Ericsson's expansion of its North American business, particularly in managed services for some of its existing large customers. The deal was an all cash transaction, on a cash and debt-free basis.