22 June 2021
Skadden is representing Axiata Group Berhad ("Axiata"), a leading telecommunications group in Asia, in the merger of Axiata's and Telenor Asia Pte Ltd.'s ("Telenor") respective Malaysian mobile operations (Celcom Axiata Berhad ("Celcom") and Digi.com Berhad ("Digi"),) into a combined entity to be named Celcom Digi Berhad ("Celcom Digi"). Axiata and Telenor will be equal partners and each will have a 33.1% ownership stake in Celcom Digi, which will continue to be listed on Bursa Malaysia Securities Berhad (“Bursa”). Celcom Digi is targeted to be among the five largest companies listed on Bursa in terms of market capitalization, with a combined pre-synergy equity value of close to RM50 billion (approximately US$12.07 billion). The transaction is expected to be the largest-ever telecoms transaction in Malaysia. Closing, which is subject to shareholder and regulatory approvals and other customary terms and conditions, is expected to occur by Q1 2022.
The global Skadden team is led by partners Jonathan Stone and Rajeev Duggal, with a Hong Kong and Singapore-based team including Counsel Parveet Singh Gandoak, Asia Pacific Counsel Vincent Sze and associates Arthur Chan and Ken Ye, corporate; London partners Danny Tricot and John Adebiyi, corporate; London partner Alex Jupp, with Counsel Jisun Choi and associate Melissa Pear, tax; Hong Kong partner Andrew Foster, antitrust; Hong Kong partner Rory McAlpine, with Counsel Wilfred Ho and associate James Tennison, international arbitration; Hong Kong partner Steve Kwok, with associate Beatriz Paterno, litigation; and New York partner Bruce Goldner, intellectual property.
For further information, please contact:
Grace Lord, Marketing & Communications Specialist, Skadden
grace.lord@skadden.com
