Digital Colony’s acquisition of Digita Oy from First State Investments


Ashurst advised Digital Colony, a global investment firm focused on enabling the next generation of mobile and internet infrastructure, on its agreement to acquire 100% of the capital in Digita Oy (‘Digita’) from First State Investments.

Digita is the owner and operator of the premier nationwide digital terrestrial television and radio broadcasting tower infrastructure network in Finland. Founded in 1999 as a spin-off from national broadcaster Yle, Digita is Finland’s leading TV and radio broadcasting network and the only platform with the ability to reach nearly 100 percent of the Finnish population. The company is also Finland’s largest independent tower network owner, providing infrastructure solutions to the country’s largest mobile network operators. Digita will continue to be led by CEO Juha-Pekka Weckström and the existing management team.

The Ashurst team, which worked closely with Digital Colony’s in-house team led by general counsel Geoffrey Goldschein, was led by digital economy head Nick Elverston (picture) and corporate transactions senior associate Tara Waters, with Tove Webster advising on the warranty and indemnity insurance aspects. Finance advice was provided by partner Derwin Jenkinson and associate Nicola Heather. Funds partner Isabelle Lentz and senior associate Paul Witte advised on Luxembourg law aspects. Partner Ross Mackenzie advised on competition matters, assisted by associate Nadja Huber with partner Nick Gardner and associate Rebecca Kell providing tax advice and counsel Eleanor Reeves advising on environmental aspects.

Advice in relation to Finnish law was provided by Waselius & Wist, led by partner Fredrik Lassenius.

Bank of America Merrill Lynch and ICE Capital served as financial advisors to First State, with Roschier acting as legal advisor.

Involved fees earner: Fredrik Lassenius – Waselius & Wist; Nick Elverston – Ashurst; Tara Waters – Ashurst; Tove Webster – Ashurst; Derwin Jenkinson – Ashurst; Nicola Heather – Ashurst; Isabelle Lentz – Ashurst; Paul Witte – Ashurst; Ross Mackenzie – Ashurst; Nadja Huber – Ashurst; Nicholas Gardner – Ashurst; Rebecca Kell – Ashurst; Eleanor Reeves – Ashurst;

Law Firms: Waselius & Wist; Ashurst;

Clients: Digital Colony;