Carey counsels CMB Prime on fibre optic acquisition

Carey has counselled CMB Prime Administradora General de Fondos, through its CMBLV-Digital Infra I fund, on the acquisition of 100% of the shares of Laser II, owner of OnNet and Entel’s fibre optic network in eight Chilean municipalities, covering more than 370,000 homes and extending over 7,500km of fibre.

The transaction, which closed on 11 December, also included a series of contracts with Entel as the anchor customer for Laser II’s fibre network.

Other advisors were CMS Carey & Allende as advisor to Infraco and Claro & Cía. as advisor to Entel, while financial advisors were BNP Paribas for both Entel and Infraco, and CMB Administradora General de Fondos for CMB.

The main particularity of the transaction was that it had its origin in the obligation to divest the fibre optic network in the communes of Calama, Concón, La Reina, Las Condes, Lo Barnechea, Providencia, Santiago and Vitacura, imposed by the Fiscalía Nacional Económica, as part of Infraco’s acquisition of Entel’s fibre optic network from Entel in December 2023.

The transaction also contemplated the execution of a framework contract for the provision of connectivity services with Entel, as well as other ancillary contracts, such as an operation and maintenance contract, a housing contract, a support contract, a ducts and cameras contract, and a transitional services contract.

CMS Carey & Allende’s team consisted of partner Jorge Allende and senior associate Lucía Ochoa.

Claro & Cía’s team included partner Joaquín Rodríguez and attorney Matías de Marchena F.

Carey’s team was led by partners Salvador Valdés (pictured left), Matías Vergara (pictured centre, left), Manuel Alcalde (pictured centre, right) and José Pardo (pictured right), counsel Eduardo Martin, and associates Daniela Pfeffer, Juan Pablo Vukasovic, Vicente Yubini, Nicolás Fosk, Francisco Jiménez, Alejandro Toro and Arturo Fasani.