Eric de Vries and Chris van Amersfoort of HBN Law advised United Telecommunication Services NV (“UTS”) on the sale of a controlling interest in UTS by the Country of Curaçao to Liberty Latin America Ltd. (LLA) and Cable & Wireless Communications.
In the transaction, UTS is valued at an enterprise value of US$ 189 million on a cash- and debt-free basis. The transaction is unique as it is the first privatization of a government owned entity in the history of the Country of Curaçao.
LLA is a leading telecommunications company operating in over 20 countries across Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil, BTC and Cabletica. Liberty Latin America offers video, broadband internet, telephony and mobile services to residential and business customers, as well as enterprise-grade connectivity, data center, hosting and managed solutions, and information technology solutions with customers ranging from small and medium enterprises to international companies and governmental agencies. With the acquisition, Liberty Latin America becomes the largest full-service converged telecom operator on the Dutch Caribbean.
The legal team was led by Eric de Vries and Chris van Amersfoort and consisted of Terrence Matroos, Marcha Woudstra, Robert Bottse, Charles Rutte, Max Janssen, Paulina Blom and Judely Meulens.