Proskauer helps BT offload Latin America assets
Global law firm Proskauer has advised British Telecommunications (BT) on its sale of selected domestic operations and infrastructure in 16 countries in Latin America to CIH Telecommunications Americas, an affiliate of CIH Technology Holdings.
The transaction is part of BT’s ongoing transformation of its global unit and will deliver continuity and growth opportunities for customers and employees in Latin America, the law firm said.
BT will retain a strong presence in the region after the sale, delivering next-generation networking, cloud and security services to multinational customers across 21 countries.
BT and CIH have also entered into wholesale and reseller agreements, under which CIH will act as a regional channel for BT’s products and services and continue to supply domestic connectivity services to BT.
BT and CIH have agreed not to disclose the terms of the purchase. Assets and operations in the scope of the transaction delivered revenue of £110 million ($128.7 million) to BT in fiscal year 2018/19. They include two owned fibre networks with total length of 650km, 2,000km of leased fibre lines, four data centres and five teleports.
The divested business is headquartered in São Paulo, Brazil.
The Proskauer team included partners Daniel Ganitsky (pictured) of the firm’s M&A practice, Andrew Kleiman (M&A), and Martin Hamilton (tax) as well as associates Jennifer Wong (M&A), Nick Pellegrino (M&A), Sarah Hughes (M&A), Saulo Salles de Padua (Latin America) and Aaron Lee (tax).
