Tampnet is to be jointly acquired by ATP (Denmark’s largest pension provider) and investors 3i Infrastructure. 3i Infrastructure have announced that they are looking to invest around £200m for the acquisition of their 50% stake. The Tampnet management team will also invest to acquire a minority shareholding.
Since 2012, Tampnet has grown more than threefold in revenues and become the world's largest offshore fibre-backed communication infrastructure network, serving more than 300 oil and gas platforms, units, FPSO's and exploration rigs.
A multidisciplinary WBD oil & gas and corporate team advised on the transaction, led by Oil & Gas Partner Richard Cockburn, Legal Director Iain Pritty and Solicitor David Ridley who are both part of WBD's national Corporate team.
The firm began working with EQT after its acquisition of Tampnet in November 2012 for around NOK1.5bn (£140.9m), advising on the reorganisation of its group assets and the acquisition of CNSFTC from BP in 2014.
Richard Cockburn, comments:
"We are delighted to have advised EQT on the sale of Tampnet and CNSFTC. Our strong oil and gas and corporate credentials meant we were able to provide a full service offering spanning Oil and Gas, Commercial, Real Estate, IT, Telecoms, Competition and Employment. Our team here at WBD also worked closely with the team at Selmer, a Norwegian law firm."