Millicom’s $2.2 Billion Acquisition of Tigo Guatemala

Davis Polk, Jones Day and Consortium Legal advised Millicom on the deal.
Winston & Strawn and ALTA QIL+4 Abogados advised Miffin Associates Corp..

Millicom executed the $2.2 billion acquisition of the remaining 45% equity interest in its joint venture businesses in Guatemala, Tigo Guatemala, from Millicom’s local partner. As a result, Millicom will own a 100% equity interest in Tigo Guatemala. The transaction is expected to close today.

Millicom is a leading provider of fixed and mobile services dedicated to emerging markets in Latin America and Africa. As of September 30, 2021, Tigo Guatemala was the leading mobile player with 11.6 million subscribers, the leading broadband internet provider with 392,000 subscribers, and the second-largest pay TV provider with 567,000 customers, in Guatemala.

The Davis Polk corporate team included partner William H. Aaronson (Picture) and associate Steven Jaffe. Partner John B. Meade and associate Michael Schuster provided capital markets advice.

Jones Day advised Millicom on the financing with a team including  Fradyn Suárez and Michael B. Shammo.

In Guatemala, Consortium Legal advised Millicom with Ana Sofía Escribá, Álvaro Rodrigo Castellanos Howell, Mario Estuardo Archila,  Alfredo Rodríguez Mahuad, Roxana Sandoval, Cristina Rodríguez and  Alejandra Fuentes Pieruccini.

Winston & Strawn advised Miffin Associates Corp. with Claude Serfilippi.

ALTA QIL+4 Abogados advised Miffin Associates Corp. with Marcos Ibargüen and Enrique Martínez Guzmán.

Involved fees earner: Marcos Ibargüen – ALTA QIL+4 Abogados; Enrique Martínez Guzmán – ALTA QIL+4 Abogados; Mario Estuardo Archila – Consortium – Legal; Alvaro Rodrigo Castellanos Howell – Consortium – Legal; Sofía Escribá – Consortium – Legal; Alejandra Fuentes Pieruccini – Consortium – Legal; Alfredo Rodríguez – Consortium – Legal; Cristina Rodriguez – Consortium – Legal; Roxana Sandoval – Consortium – Legal; William Aaronson – Davis Polk & Wardwell; Steven Jaffe – Davis Polk & Wardwell; John Meade – Davis Polk & Wardwell; Michael Schuster – Davis Polk & Wardwell; Michael Shammo – Jones Day; Fradyn Suárez – Jones Day; Claude Serfilippi – Winston & Strawn;

Law Firms: ALTA QIL+4 Abogados; Consortium – Legal; Davis Polk & Wardwell; Jones Day; Winston & Strawn;

Clients: Miffin Associates Corp.; Millicom International Cellular S.A.;