Cable & Wireless Panama’s Acquisition Of Claro Panama From América Móvil

Freshfields and Galindo, Arias y López represented América Móvil on the deal while Baker Botts and Alemán Cordero & Galindo Lee – Alcogal advised Liberty Latin America.

América Móvil sold Claro Panama to Cable & Wireless Panama, an affiliate of Liberty Latin America.  The transaction was announced on September 15 and is expected to close during the first quarter of calendar year 2022.

The all-cash transaction values Claro Panamá at an enterprise value of $200 million on a cash- and debt-free basis. 

América Móvil is a Mexican telecommunications corporation headquartered in Mexico City, Mexico. It is the 7th largest mobile network operator in terms of equity subscribers and one of the largest corporations in the world.

Liberty Latin America is a leading telecommunications company operating in over 20 countries across Latin America and the Caribbean.

The Freshfields team was led by partners Ethan Klingsberg (Picture) and Andrea Merediz Basham and associates Max Sanders, Victor Ma and Borja Coz on corporate/M&A; partner Claude Stansbury and associate Brendan Counihan on tax; partner Menachem Kaplan and counsel Brock Dahl on IP and data matters; partner Maj Vaseghi and associate Jeffery Anand on employee benefits and executive compensation; partner Kyle Lakin on finance; and counsel Stephanie Brown Cripps on compliance matters. 

The Baker Botts team included: Jonathan Gordon (Partner, New York), Jim Marshall (Partner, Houston), Grace Matthews (Senior Associate, Austin), Carlos Marquez (Associate, Washington, D.C.), Charlie Gili (Associate, New York); Jon Lobb (Partner, Houston), Peter Farrell (Senior Associate, Washington, D.C.); Paul Cuomo (Partner, Washington, D.C.), Matt Adler (Senior Associate, Washington, D.C.); Krisa Benskin (Special Counsel, Houston), Gabriela Alvarez (Associate, Houston).

Involved fees earner: Diego Anguizola – Alemán, Cordero, Galindo & Lee; Raul Borrell – Alemán, Cordero, Galindo & Lee; Jaime Castillo – Alemán, Cordero, Galindo & Lee; Patricia Cordero A. – Alemán, Cordero, Galindo & Lee; Rita de la Guardia – Alemán, Cordero, Galindo & Lee; Alejandro Ferrer – Alemán, Cordero, Galindo & Lee; Doris Nieto – Alemán, Cordero, Galindo & Lee; Matthew Adler – Baker Botts LLP; Gabriela Alvarez – Baker Botts LLP; Krisa Benskin – Baker Botts LLP; Paul Cuomo – Baker Botts LLP; Peter Farrell – Baker Botts LLP; Jonathan Gordon – Baker Botts LLP; Jon Lobb – Baker Botts LLP; Carlos Marquez – Baker Botts LLP; James Marshall – Baker Botts LLP; Grace Matthews – Baker Botts LLP; Jeffery Anand – Freshfields Bruckhaus Deringer LLP; Andrea Basham – Freshfields Bruckhaus Deringer LLP; Stephanie Brown Cripps – Freshfields Bruckhaus Deringer LLP; Brendan Counihan – Freshfields Bruckhaus Deringer LLP; Brock Dahl – Freshfields Bruckhaus Deringer LLP; Menachem Kaplan – Freshfields Bruckhaus Deringer LLP; Ethan Klingsberg – Freshfields Bruckhaus Deringer LLP; Kyle Lakin – Freshfields Bruckhaus Deringer LLP; Victor Ma – Freshfields Bruckhaus Deringer LLP; Max Sanders – Freshfields Bruckhaus Deringer LLP; Claude Stansbury – Freshfields Bruckhaus Deringer LLP; Maj Vaseghi – Freshfields Bruckhaus Deringer LLP; Mariam Dadabhai – GALA – Galindo, Arias & López; Diego Herrera Dutari – GALA – Galindo, Arias & López; Andrés Sanjur – GALA – Galindo, Arias & López;

Law Firms: Alemán, Cordero, Galindo & Lee; Baker Botts LLP; Freshfields Bruckhaus Deringer LLP; GALA – Galindo, Arias & López;

Clients: América Móvil; Liberty Latin America Ltd;

Author: Giulia Di Palma