King & Wood Mallesons has advised Axiata Digital Services (ADS) on the formation of an alliance with SoftBank Corp., the largest independent digital, analytics, and marketing company in nine countries across South and Southeast Asia.
Pursuant to the agreement, SoftBank will invest approximately US$60 million in Axiata Digital Advertising (ADA), a subsidiary of Axiata Group Berhad and held by ADS, giving ADA an initial valuation of US$260 million. Post investment, Softbank will own 23% in ADA, with ADS remaining the majority shareholder with a 63% ownership stake.
SoftBank is a Fortune 500 telecommunications company with strong investment portfolio headquartered in Japan and, through its investment in ADA, will establish ADA as its core digital and data marketing partner in the region.
KWM, with a team led by Jake Robson (Picture) and including Partner Nick Davies and Senior Associate Azlan Mohamed Noh, advised on all aspects of the deal, including the fundraising from SoftBank and the terms of the shareholders’ agreement between ADS, SoftBank and the existing minority shareholder Sumitomo Corporation.
Law Firms: King & Wood Mallesons;
Clients: Axiata Digital Services;