Roschier advised Investor in its divestment of shares in Three Scandinavia’s tower business and assets
Patricia Industries, a part of Investor AB, has agreed to a divestment of its 40% share of Three Scandinavia’s tower business and assets.
In the divestment, Patricia Industries transfers its share of Three Scandinavia’s passive network infrastructure assets to CKH Networks and participates in the divestment of CKH Networks for EUR 10 billion to Cellnex, a leading European independent operator of wireless telecommunications infrastructure. The consideration attributable to Patricia Industries will be 5% of the total consideration.
CKH Networks is an operator of CK Hutchison’s European tower business with assets in Austria, Denmark, Ireland, Italy, Sweden and the United Kingdom.
Three Scandinavia is a provider of mobile voice and broadband services in Sweden and Denmark. CK Hutchison owns 60% and Investor AB 40% of the company.
Closing is subject to regulatory approvals and will occur on a country by country basis.