Herbert Smith Freehills advises Malaysia's Axiata and edotco on US$600 million telecoms infrastructure investment

Herbert Smith Freehills has advised Malaysian telecoms giant Axiata on a US$600 million equity investment in its telecoms infrastructure company, edotco.

The largest global telecoms tower sector placement of the year saw Innovation Network Corporation of Japan (INCJ) invest US$400 million in edotco, alongside a US$200 million investment by Khazanah Nasional Berhad, Malaysia's sovereign wealth fund.

Established in 2012, edotco owns and manages over 25,000 telecoms towers in Malaysia, Myanmar, Bangladesh, Cambodia and Sri Lanka.

"We are delighted to advise Axiata and edotco again, particularly on a placement that reinforces edotco's stellar performance since its launch as an independent company in 2012," said partner Mark Robinson, who led the Herbert Smith Freehills team advising the companies.

"The scale of investment attracted from the very highest quality investors also confirms the attractiveness of the telecoms market in Southeast Asia to global investors, a trend we expect to continue in 2017."

Mark was assisted in Singapore by corporate senior associate Sally Austen, corporate associates Victor Chiew and Mia Harrison-Kelf, and from Melbourne by corporate associate Keara Stretton.

In addition, Singapore capital markets partner Siddhartha Sivaramakrishnan and associate Rohit Anand advised on capital markets aspects.

Notes for editors

1. In Asia, Herbert Smith Freehills operates through eight offices – in Bangkok, Beijing, Hong Kong, Jakarta*, Seoul, Shanghai, Singapore and Tokyo.  The firm has some 250 lawyers in Asia, including 53 partners.
2. The firm has leading and dedicated tech, media and telecoms experts across Asia Pacific, with teams based in Hong Kong, Singapore, Beijing, Australia and Japan. We support tech, media and telecoms clients at all business stages, advising on regulatory, commercial, corporate, competition, IP, dispute resolution and finance matters.

*In Jakarta, Herbert Smith Freehills' international counsel practise alongside our affiliate firm, Hiswara Bunjamin & Tandjung, one of Indonesia’s leading commercial and corporate law firms.