DLA Piper and Weil Gotshal & Manges were instructed on Vodafone´s €7.2bn acquisition of Spanish cable company Ono, one of the most significant European M&A deals in recent years.
A 32-lawyer DLA team – based in the firm´s Madrid and London offices – advised Vodafone on the deal, which saw the company completing the transaction on a debt and cash-free basis.
Meanwhile, Weil, Gotshal & Manges advised Ono’s principal shareholders, Providence Equity Partners, CCMP, THLee and Quadrangle on the transaction.
Vodafone views the Ono acquisition as a means of exploiting the rapid increase in the adoption of unified communications products and services in the Spanish market. Ono is the Spanish market leader in high speed broadband and the deal provides Vodafone with immediate access to 7.2 million homes.
The DLA Piper team was led by its Spain senior partner Juan Picón.
He said: “A combined team from DLA Piper’s Madrid and London offices worked around the clock within a tight timeframe to assist Vodafone in delivering what is a landmark transaction in the telecommunications sector in Spain.
“A key factor in achieving this outcome was the way in which the DLA Piper and Vodafone teams worked together in a co-ordinated and effective manner to bring the transaction to signing.”
The Weil, Gotshal & Manges team was led by London private equity partner, Marco Compagnoni.
In 2010, Weil also advised the majority of Ono shareholders, including Providence Equity Partners, Thomas H. Lee, Quadrangle Capital Partners and funds affiliated with J.P. Morgan Partners (advised by CCMP Capital), on their participation in the refinancing plan for Ono.
Garrigues acted as Spanish counsel for Ono shareholders Providence, CCMP, Thomas H Lee and Quadrangle.