Deal Closed | GTT Communications | Acquisition by I Squared Capital

The details of the deal are as under:

Sector: Infrastructure 

Announcement Date: 16-Oct-2020 

Name of Client: GTT Communications 

Name and Description of Bidder: I Squared Capital | USA  

I Squared Capital is an independent global infrastructure investment manager focusing on energy utilities telecom and transport in the Americas Europe and Asia 

Name and Description of Seller: GTT Communications | USA  

GTT connects people across organizations around the world and to every application in the cloud. GTT's clients benefit from an outstanding service experience built on GTT's core values of simplicity speed and agility. GTT owns and operates a global Tier 1 internet network and provides a comprehensive suite of cloud networking services. 

Deal Description: Khaitan & Co advised GTT Communication on Indian law aspects of the acquisition by I Squared Capital of GTT’s business and activities of providing Pan-European, North American, sub-sea and trans-Atlantic fiber network and data centre infrastructure services. 

Total Consideration: USD 2.1 billion 

Team Members: Sharad Moudgal (Partner), Prashanth Ramdas (Principal Associate), Chirag Narasimiah (Senior Associate), Srishti Ramkrishnan (Senior Associate) and Divya Gupta (Associate) 

Role of Firm: Khaitan & Co advised GTT on Indian law aspects of the transaction, including due diligence, pre-transaction restructuring, transaction documentation, ELB advisory, business transfer, and transaction closing. 

Other legal advisors: Goodwin Procter LLP advised GTT on the transaction as global counsel, and Gitti and Partners advised GTT on Italian law aspects