Affinitas member firm Gómez-Pinzón advised Onnet Fibra Colombia, a Kohlberg Kravis Roberts (KKR) subsidiary, on an agreement with Colombia Telecomunicaciones, a Telefónica subsidiary, to acquire a 60% controlling stake of Telefónica Colombia’s existing fiber-to-the-home (FTTH) network. The advice consisted of acquisition, financing, regulatory and competition matters.
This deal is considered the largest private open access wholesale digital infrastructure investment ever made in the country and will provide broadband access to nearly 4.3 million Colombian homes in the next three years.
The acquisition was financed with the participation of Scotiabank Colpatria and Bancolombia, as senior banks in the financing, with commitments in its different tranches for USD 221,000,000.
The team that acted as Colombian counsel of KKR in this landmark project was led by partners Natalia García and Daniel Londoño and included the participation of the following practice areas: Corporate and M&A, Banking and Finance, Capital Markets, Technology, Communications and Data Protection, Tax and Competition.