Gide, counsel on the acquisition of the second telecoms operator in Senegal, Tigo Sénégal
16 May 2018
Deals | Africa | M&A | Banking & Finance
Gide has advised group Teyliom (investment holding controlled by Yerim Habib Sow), partner of NJJ (personal holding of Xavier Niel) and Axian Group (conglomerate owned by the Hiridjee family), on their acquisition of Tigo Sénégal, second telecoms operator in Senegal, from Millicom International Cellular S.A., an international telecommunications group listed on the Stockholm stock exchange. Gide also acted as counsel to the banks on the financing of this acquisition.
The consortium announced an ambitious investment programme of approx. 70 billion CFA francs (over 100 million euros) to turn Tigo into the sector leader and a key player in the economic and digital advancement of Senegal. The project aims to boost the quality and extent of the network's coverage throughout the country, as well as related services.
Gide's team advising Teyliom Telecom comprised partner Thomas Urlacher and associate Charles-Douglas Fuz on corporate aspects. Partner Eric Cartier-Millon and associate Anne Moriceau advised the banks on financing this acquisition.
NJJ and Axian Group were advised by Skadden, Arps, Slate, Meagher & Flom LLP. Millicom International Cellular S.A. was represented by Davis Polk.