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Cable & Wireless Acquires Columbus International for $1.85 Billion
- Client News
- March 31, 2015
Paul, Weiss client Cable & Wireless Communications Plc, a telecommunications services provider operating in 17 countries throughout the Caribbean, Latin America and the Seychelles, completed the acquisition of Columbus International Inc. for approximately $1.85 billion - $707.5 million in cash and the remainder in shares - and the assumption of Columbus's existing net debt of $1.17 billion. The Columbus acquisition was funded through issuance of new equity and debt offerings. J.P. Morgan Bank N.A. has provided debt financing, including a backstop commitment to fund change of control payments if needed. Cable & Wireless also refinanced its existing revolving credit facility.
The London office, working with Slaughter and May and our New York and Washington offices, advised on the debt financing for the acquisition, an equity placing, a consent solicitation and a change of control offer for Columbus's notes, as well as on corporate, antitrust, tax and FCC matters.
The Paul, Weiss team included securities partner Mark Bergman and counsel Patricia Vaz de Almeida; financing partner Eric Goodison and counsel Didier Malaquin and Pearl Yuan-Guarg; tax partner David Mayo; and antitrust partner Joseph Simons.