BigAir Merges with Superloop
Baker & McKenzie advised BigAir Group Limited on its $200 million acquisition by Superloop Limited. The transaction will be implemented by scheme of arrangement.
The combined group will be a $600 million, ASX listed full‐service telecommunications and managed services company capable providing customers with end‐to‐end voice, data, cloud and managed IT services by utilising its own wireless and fibre‐optic networks. The combined company will also service Singapore and Hong Kong by leveraging Superloop’s rapidly expanding footprint in those markets.
Lead partner on the transaction, Guy Sanderson stated: "Superloop offered all scrip or cash and scrip alternatives, to create a $600 million merged group with operations across the Asia Pacific region."
Guy further commented: "We have worked with BigAir on M&A transactions for many years now. We were delighted to be chosen to work on this complex transaction for our client to create a new merged group with significant scale and operational synergies."
BigAir’s Board of Directors unanimously recommend that shareholders vote in favour of the Scheme, in the absence of a superior offer and subject to the independent expert concluding that the Scheme is in the best interests of BigAir shareholders.
Guy was assisted by lawyer, Jeanie Chang.