Allens advises AustralianSuper and Singtel on Axicom acquisition

Allens has advised AustralianSuper and Singtel on Australia Tower Network’s $3.58 billion acquisition of leading independent telecommunication infrastructure provider Axicom.

The deal will see ATN – which is owned by AustralianSuper and Singtel – double its mobile tower footprint, with the addition of Axicom’s 2,000 metro and outer-metro telecommunication sites.

‘We are pleased to have assisted AustralianSuper and Singtel with this significant transaction. It provides ATN with a significantly larger national footprint, diversified customer base and positions the company to tap into growth opportunities arising from digitisation and the increasing demand for data,’ said lead Partner Wendy Rae.

‘We continue to see strong demand for high quality digital infrastructure assets. Axicom is a mature tower company that has strong core competencies, operational processes and a digital platform designed for the efficient management of towers.’

The deal is one of a number of tower transactions over the last 12 months, all of which Allens has had a role in. Most recently Allens advised AustralianSuper on its acquisition of a 70 per cent stake in ATN, and the Morrison & Co managed consortium comprising Future Fund, Commonwealth Superannuation Corporation and Sunsuper on the acquisition of a 49% interest in Ampitel.

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