AustralianSuper and Stonepeak’s $2.7 Billion Acquisition of Lumen Technologies’ Latin American Business

AustralianSuper and Stonepeak's $2.7 Billion Acquisition of Lumen Technologies’ Latin American Business

Skadden, Arps, Slate, Meagher & Flom represented AustralianSuper in the transaction. Simpson Thacher, Marval O’Farrell Mairal, Gómez-Pinzón, Consortium Legal, Rebaza, Alcázar & De Las Casas, Travieso Evans Arria Rengel & Paz, Creel, García-Cuéllar, Aiza y Enríquez, Pérez Bustamante & Ponce, Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga, Barros & Errázuriz, Arias, Fábrega & Fábrega and Guyer & Regules advised Stonepeak Infrastructure Partners on the deal. Jones Walker advised Lumen Technologies, Inc. CorralRosales advised Level 3 Communications, Inc.

Lumen Technologies (NYSE: LUMN) signed a definitive agreement to sell its Latin American business to Stonepeak and AustralianSuper for $2.7 billion.

Under the terms of the purchase agreement, Lumen will divest its Latin American business, which will operate as an independent, U.S. headquartered portfolio company of Stonepeak (the “New LATAM Company”). The current Latin American leadership team and organization will remain in place, led by Hector Alonso, Lumen’s president for the region. Lumen will also retain a strategic relationship with the New LATAM Company and continue to serve joint customers in the region.

With approximately 450,000 route fiber miles and serving customers in more than 60 countries, Lumen delivers the fastest, most secure platform for applications and data to help businesses, government and communities deliver amazing experiences.

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $37 billion of assets under management.

AustralianSuper manages more than AUD$225 billion of members’ retirement savings on behalf of more than 2.4 million members from around 350,000 businesses. One in 10 working Australians is a member of AustralianSuper, the nation’s largest pension fund.

The Skadden team included Real Estate partner Pete Mair (Picture; Los Angeles), M&A partner Paola Lozano (New York), Latin America Corporate counsel Hilel Pohulanik (New York), Financial Institutions counsel Patrick Lewis (New York), Tax partner Sean Shimamoto (Palo Alto), IP & Technology partner Ken Kumayama (Palo Alto), Antitrust/Competition partner Ken Schwartz (New York), Financial Institutions Regulation and Enforcement partner Eytan Fisch (Washington, D.C.) and Litigation partner Patrick Rideout (New York).

The Simpson Thacher team includes Eli Hunt, Borja Marcos, Nicholas J. Marricco and Jule Walsh (M&A); Ryan Bekkerus (Capital Markets); Brian Gluck, Jaime Mercado and Robyn Cho (Banking and Credit); Krista McManus (Real Estate); Jaclyn Starr, Deborah Gruen and Albi Kocibelli (Funds); Jonathan Goldstein and Eli Shalam (Tax); Tristan Brown and Allison Sutherland (Executive Compensation and Employee Benefits); Richard Jamgochian and Kelly Karapetyan (Antitrust); Michael Isby (Environmental); and Genevieve Dorment and Kate Mirino (Intellectual Property).

Marval O’Farrell Mairal advised Stonepeak with Hernán Slemenson, Daniel Francisco Di Paola, P. Matías Brouchy and Nicolás G. De Iure.

Gómez-Pinzón advised Stonepeak with Felipe Mariño Dueñas, Andrea Stephanou and Juan Felipe Sáenz.

Consortium Legal advised Stonepeak with David Reuben and Juan Manuel Cordero Esquivel.

Rebaza, Alcázar & De Las Casas advised Stonepeak with Alexandra Orbezo, Luis Miguel Elias,  Carolina Meneses, Stefano Amprimo, Diego Price and Alejandra Galvez.

Travieso Evans Arria Rengel & Paz advised Stonepeak with Simón Guevara, Karla Peña, Yeoshua Bograd and Daniela Del Vecchio.

Creel, García-Cuéllar, Aiza y Enríquez advised Stonepeak with Carlos del Río, Leonel Pereznieto,  Jorge kargl, Gerardo Zimbrón Santamarina, Alejandro Castelló, Carlos Ruiz, Daniela Roca Subero and Brenda Elizondo

Pérez Bustamante & Ponce advised Stonepeak with  Diego Pérez Ordóñez, Carmen Simone Lasso,  Andrés Brown Pérez, Patricio Quevedo Vergara,  Gianella Gallegos, Mario Navarrete Serrano, María Francisca Gallegos-Anda Naranjo, Víctor Cabezas, Camila Mateus-Villagómez, Gonzalo Rivera Gómez, David Bermeo and Romina Dávalos.

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga advised Stonepeak with Victor Gelli Cavalcanti,  Thomaz Miguel Costa Carpes, Fabiana Rocha Pasmanik, Bruno Travassos Marto, Lívia Geraldi Lima, Thays Castaldi Gentil, Natalia Vasconcelos Baziewicz and Filipe Rocha da Fonseca.

Barros & Errázuriz advised Stonepeak with Pablo Guerrero Valenzuela, Javier Díaz, Alejandra Aránguiz, Andrés Rodríguez Ariztía, María Fernanda Espinoza Meza, Ignacio Urbina, Mary Anne Hohmann, Daniela Tumani and Magdalena Rojas.

Arias, Fábrega & Fábrega – ARIFA advised Stonepeak with Fernando Arias F. and Jesús de Luca.

Guyer & Regules advised Stonepeak in Uruguay

CorralRosales advised Level 3 Communications, Inc. with Xavier Rosales, Ana Samudio and Milton Carrera.

Jones Walker advised Lumen Technologies, Inc. with  Kenneth Najder, Britt Seal, Amy Scafidel, Brett Beter and Katie Herbert.

Involved fees earner: Fernando Arias – Arias Fabrega & Fabrega; Jesús de Luca – Arias Fabrega & Fabrega; Alejandra Aránguiz Sánchez – Barros & Errázuriz Abogados; Javier Díaz Velásquez – Barros & Errázuriz Abogados; Maria Fernanda Espinosa Meza – Barros & Errázuriz Abogados; Pablo Guerrero – Barros & Errázuriz Abogados; Mary Anne Hohmann Hewstone – Barros & Errázuriz Abogados; Andrés Rodríguez Ariztía – Barros & Errázuriz Abogados; Magdalena Rojas – Barros & Errázuriz Abogados; Daniela Tumani – Barros & Errázuriz Abogados; Ignacio Urbina – Barros & Errázuriz Abogados; Juan Manuel Cordero E. – Consortium – Legal; David Reuben – Consortium – Legal; Milton Carrera – CorralRosales; Xavier Rosales – CorralRosales; Ana Samudio – CorralRosales; Alejandro Castelló – Creel, García-Cuéllar, Aiza y Enriquez SC; Carlos del Rio S. – Creel, García-Cuéllar, Aiza y Enriquez SC; Brenda Elizondo – Creel, García-Cuéllar, Aiza y Enriquez SC; Jorge Kargl Pavia – Creel, García-Cuéllar, Aiza y Enriquez SC; Leonel Pereznieto Del Prado – Creel, García-Cuéllar, Aiza y Enriquez SC; Daniela Roca Subero – Creel, García-Cuéllar, Aiza y Enriquez SC; Carlos Ruiz Romero – Creel, García-Cuéllar, Aiza y Enriquez SC; Gerardo Zimbrón – Creel, García-Cuéllar, Aiza y Enriquez SC; Felipe Mariño Dueñas – Gómez-Pinzón; Juan Felipe Sáenz – Gómez-Pinzón; Andrea Stephanou – Gómez-Pinzón; Brett Beter – Jackson Walker L.L.P.; Katie Herbert – Jackson Walker L.L.P.; Kenneth Najder – Jackson Walker L.L.P.; Amy Scafidel – Jackson Walker L.L.P.; Britt Seal – Jackson Walker L.L.P.; Matías Brouchy – Marval, O’Farrell & Mairal; Nicolás Gonzalo De Iure – Marval, O’Farrell & Mairal; Daniel Francisco Di Paola – Marval, O’Farrell & Mairal; Hernán Slemenson – Marval, O’Farrell & Mairal; Thays Castaldi Gentil – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Thomaz Miguel Costa Carpes Borges – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Victor Gelli Cavalcanti – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Filipe Rocha da Fonseca – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Fabiana Rocha Pasmanik – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Bruno Travassos Marto – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Natalia Vasconcelos Baziewicz – Mattos Filho Veiga Filho Marrey Jr & Quiroga; David Alfredo Bermeo Barba – Pérez Bustamante & Ponce; Andrés Brown Pérez – Pérez Bustamante & Ponce; Victor Cabezas Albán – Pérez Bustamante & Ponce; Romina Dávalos Suazo – Pérez Bustamante & Ponce; Gianella Gallegos Santos – Pérez Bustamante & Ponce; María Francisca Gallegos-Anda Naranjo – Pérez Bustamante & Ponce; Camila Mateus-Villagómez – Pérez Bustamante & Ponce; Mario Navarrete Serrano – Pérez Bustamante & Ponce; Diego Pérez Ordoñez – Pérez Bustamante & Ponce; Patricio Quevedo Vergara – Pérez Bustamante & Ponce; Gonzalo Rivera Gómez – Pérez Bustamante & Ponce; Carmen Simone Lasso – Pérez Bustamante & Ponce Abogados; Stefano Amprimo – Rebaza Alcazar & De Las Casas Abogados Financieros; Luis Miguel Elías – Rebaza Alcazar & De Las Casas Abogados Financieros; Alejandra Gálvez – Rebaza Alcazar & De Las Casas Abogados Financieros; Carolina Meneses – Rebaza Alcazar & De Las Casas Abogados Financieros; Alexandra Orbezo – Rebaza Alcazar & De Las Casas Abogados Financieros; Diego Price – Rebaza Alcazar & De Las Casas Abogados Financieros; Ryan Bekkerus – Simpson Thacher & Bartlett; Tristan Brown – Simpson Thacher & Bartlett; Robyn Cho – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Brian Gluck – Simpson Thacher & Bartlett; Jonathan Goldstein – Simpson Thacher & Bartlett; Deborah Gruen – Simpson Thacher & Bartlett; Eli Hunt – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Richard Jamgochian – Simpson Thacher & Bartlett; Kelly Karapetyan – Simpson Thacher & Bartlett; Albi Kocibelli – Simpson Thacher & Bartlett; Borja Marcos – Simpson Thacher & Bartlett; Nicholas Marricco – Simpson Thacher & Bartlett; Krista McManus – Simpson Thacher & Bartlett; Jaime Mercado – Simpson Thacher & Bartlett; Kate Mirino – Simpson Thacher & Bartlett; Eli Shalam – Simpson Thacher & Bartlett; Jaclyn Starr – Simpson Thacher & Bartlett; Allison Sutherland – Simpson Thacher & Bartlett; Jule Walsh – Simpson Thacher & Bartlett; Eytan Fisch – Skadden Arps Slate Meager & Flom; Ken Kumayama – Skadden Arps Slate Meager & Flom; Patrick Lewis – Skadden Arps Slate Meager & Flom; Paola Lozano – Skadden Arps Slate Meager & Flom; Peter Mair – Skadden Arps Slate Meager & Flom; Hilel Pohulanik – Skadden Arps Slate Meager & Flom; Patrick Rideout – Skadden Arps Slate Meager & Flom; Kenneth Schwartz – Skadden Arps Slate Meager & Flom; Sean Shimamoto – Skadden Arps Slate Meager & Flom; Yeoshua M. Bograd Lamberti – Travieso Evans Arria Rengel & Paz; Daniela Alejandra Del Vecchio Rosalen – Travieso Evans Arria Rengel & Paz; Simon Guevara Camacho – Travieso Evans Arria Rengel & Paz; Karla Andreína Peña García – Travieso Evans Arria Rengel & Paz;

Law Firms: Arias Fabrega & Fabrega; Barros & Errázuriz Abogados; Consortium – Legal; CorralRosales; Creel, García-Cuéllar, Aiza y Enriquez SC; Gómez-Pinzón; Jackson Walker L.L.P.; Marval, O’Farrell & Mairal; Mattos Filho Veiga Filho Marrey Jr & Quiroga; Pérez Bustamante & Ponce; Pérez Bustamante & Ponce Abogados; Rebaza Alcazar & De Las Casas Abogados Financieros; Simpson Thacher & Bartlett; Skadden Arps Slate Meager & Flom; Travieso Evans Arria Rengel & Paz;

Clients: AustralianSuper; Level 3 Communications, Inc.; Lumen Technologies, Inc.; Stonepeak Infrastructure Partners;

Author: Martina Bellini