Cleary Gottlieb Advises on Best Large Cap Corporate Deal at Belgium M&A Awards 2023
November 24, 2023
Cleary Gottlieb has been recognized for its role advising municipality-owned company Nethys and its parent company Enodia in the sale of a 75% stake minus one share in telecom operator VOO SA to Orange Belgium – winner of the Best Large Cap Corporate Deal Award at the 2023 Belgium M&A Awards.
With an enterprise value of €1.8 billion for 100% of the shares of VOO, this transaction is a landmark deal in the Belgian TMT sector and one of the largest transactions that closed in 2023.
The transaction transforms the Belgian TMT landscape. VOO – to which Brutélé’s TMT business was contributed at closing of the transaction – has a strong position on the broadband, television, and premium content markets in Wallonia and parts of Brussels, while Orange Belgium is well-known for its mobile services in Belgium. By combining VOO’s fixed TMT infrastructure with Orange Belgium’s mobile TMT infrastructure, the transaction creates a new, all-round player on the Belgian market.
To learn more about the deal, click here.
To learn more about the 2023 Belgium M&A Awards, click here.