Global law firm Ashurst advised Axiata Group Berhad (Axiata) and its subsidiary Dialog Axiata Plc (Dialog) on its acquisition of the entire issued shares of Bharti Airtel Lanka (Pvt) Limited (Airtel) and Airtel's related telecommunication businesses from Bharti Airtel Limited (Bharti).
In consideration of 100% of the shares in Airtel, Dialog will issue Bharti new ordinary shares, which will amount to 10.355% of the issued shares in Dialog.
This transaction brings together the strengths of two telco groups to support the growth and sustainability of the telecom sector in Sri Lanka.
Lead partner Joshua Cole commented:
"We are extremely proud to have worked with Axiata and Dialog on this significant transaction that will assist Axiata's growth in the region and provide stability to the Sri Lanka mobile telecommunication market."
Ashurst advised the client with a cross-border and cross-practice team led in Hong Kong by digital economy transactions partner Joshua Cole and supported by our Hong Kong team comprising Lisette Chan, Sean Ching, Evelyn Chan, Ian Chow, Alvis Lui and Crystal Yeung; our London team comprising digital economy partner Nick Elverston, supported by Shashtika Sundar and Jessica Chan; and our Sydney digital economy team comprising partner Rebecca Cope and supported by Kerry Liang.
