VdA advises on €660m PT Portugal-Morgan Stanley deal

Vieira de Almeida advised telecommunications company PT Portugal – a subsidiary of Altice Europe – on the sale of a 75 per cent stake in its company Towers of Portugal to a consortium including Morgan Stanley Infrastructure Partners and Horizon Equity Partners.

Mayer Brown and Ropes & Gray also advised PT Portugal on the deal, which was valued at €660 million, according to Mergermarket.

The telecommunications tower company Towers of Portugal consists of 2,961 sites currently operated by Altice Portugal.

The transaction has been structured as a long-term partnership between PT Portugal and Towers of Portugal, with PT Portugal retaining a 25 per cent stake.

The transaction is expected to be finalised in the third quarter of this year.

Morgan Stanley Infrastructure Partners and Horizon Equity Partners were advised by PLMJ. The PLMJ team included partners Diogo Perestrelo, Tiago Castro, André Figueiredo, Miguel Reis, Joao Velez de Lima and Sara Estima Martins.

Ben Cook