Zegona has acquired 100% of Vodafone España for €5.1 billion
The debt structure with which Zegona financed the transaction includes a €4.2 billion mega-loan from Deutsche Bank, ING and UniCredit. With this acquisition, the British fund returns to the Spanish telecommunications market, where it landed in 2015 with the purchase of Telecable. After the acquisition of the latter by Euskaltel, it was the largest shareholder, with more than 20%, of the Basque operator until its purchase by MásMóvil.
Image: Fernando de las Cuevas, Alex Kolb (GA_P partners) and Juan Hormaechea (Allen & Overy partner)
Gómez-Acebo & Pombo has advised Zegona, in collaboration with Travers Smith on the acquisition and Milbank Tweed on the financing. They have advised on the transaction: Fernando de las Cuevas, Alex Kolb and Javier Reyna, partners and associate of corporate; Irene Fernández and Juan Ignacio Romero, partner and of counsel of public law; Íñigo Igartua and Miguel Troncoso, partners of competition; Fernando Herrero, partner of banking and finance; Ignacio del Fraile and Jesús Tallos, partner and associate of labor and Oliver Padilla, tax associate. Irene Fernández, Íñigo Igartua, Miguel Troncoso, Fernando Herrero, Ignacio del Fraile, Juan Ignacio Romero, Javier Reyna,Jesús Tallos, y Oliver Padilla
Allen and Overy has advised the lenders with a team from Madrid: Juan Hormaechea, Sara Sanz, Ishtar Sancho and Laura Cabezas. And from London: Darren Hanwell, Luke Barratt and Jennifer Spring.