£255 million takeover of Manx Telecom

DLA Piper is advising AIM listed telecommunications provider, Manx Telecom plc, on its proposed takeover by Kelion Bidco for a total cash consideration of approximately £255.9 million.

Kelion Bidco is a newly incorporated company owned by infrastructure investment vehicle Basalt Infrastructure Partners.

Under the terms of the acquisition, Manx shareholders will receive 207.1 pence in cash, plus a dividend of 7.9 pence per share, giving a total entitlement of 215 pence per share.

The DLA Piper team is being led by corporate partners Charles Severs (Picture) and John Campion, assisted by associates Karin Kirschner and Grace Hunt.

Involved fees earner: John Campion – DLA Piper; Grace Hunt – DLA Piper; Karin Kirschner – DLA Piper; Charles Severs – DLA Piper;

Law Firms: DLA Piper;

Clients: Manx Telecom;

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