20 LEXPERT MAGAZINE
|
SEPTEMBER 2016
BIG DEALS
DEALS ANALYSIS
19
19
Total Deals Published
8
Corporate Finance
21
11
Mergers & Acquisitions
21
6
Cross-border Transactions
21
BIG DEALS
TRANSACTION VITALS
ANNOUNCED: 5/5/2016
CLOSED: 5/31/2016
TECHNIQUE: PRIVATELY
NEGOTIATED PURCHASE
ATTITUDE: FRIENDLY HONG KONG
ACQUIRER
SOUGHT: 35%
SIDNEY HORN
STIKEMAN ELLIOTT LLP
MONTRÉAL
(FOR TELUS)
JEFFREY LLOYD
BLAKE, CASSELS
& GRAYDON LLP
TORONTO
(FOR BARING ASIA IN CANADA)
On May 31, 2016, TELUS Corp. (TELUS) completed a previously
announced transaction whereby Baring Private Equity Asia (Baring
Asia) acquired a 35-per-cent equity stake in TELUS International
(Cda) Inc. (TELUS International).
In connection with the transaction, TELUS has also arranged an
incremental US$330 million in bank financing, which is secured by
assets of TELUS International
and its subsidiaries and is non-
recourse to TELUS.
rough this transaction
and the incremental debt
within TELUS International,
TELUS will receive proceeds
of approximately $600 million that will fund the expansion and ad-
vancement of TELUS's broadband wireline and wireless networks.
TELUS International was valued at $1.2 billion for the purposes
of the transaction.
TELUS International is a global provider of customer service, IT,
and business process services, with more than 22,000 team members
around the world, including in Canada, the United States, Europe,
Central America and Asia.
Baring Private Equity Asia is one of the largest and most estab-
lished independent alternative asset management firms in Asia, with
a total committed capital of over $13 billion (US$10 billion).
TELUS Corp. was represented in-house by a team that included
Monique Mercier, Andrea Wood, Andras Vagvolgyi, Michel Belec,
Jeff Brown, Andre Cyr and Eric Poole; and by Stikeman Elliott LLP,
with a team including Sidney Horn, Peter Castiel, Sophie Lamonde,
Stewart Sutcliffe, Gayle Noble, Kevin Custodio, Olivier Godbout,
Magali Brunelle and Daniel Glavin (corporate and M&A).
Norton Rose Fulbright Canada LLP represented TELUS Corp.
in connection with the senior secured credit facilities (the Credit Fa-
cilities). e Norton Rose Fulbright team included Nicole Sigouin,
Suzana Lobo, Michael Moher, Kaitlind de Jong, Gautam Dhillon
and Barry Segal.
e Credit Facilities were made available by a syndicate of lenders
led by e Bank of Nova Scotia and e Toronto-Dominion Bank.
Fasken Martineau DuMoulin LLP represented the lenders. e
Fasken Martineau team that included John Torrey, David Ferris, Dev
Singh and Aine O'Connor.
Osler, Hoskin & Harcourt LLP advised TELUS on the corpo-
rate reorganization that preceded the transaction. e Osler team in-
cluded Robert Yalden, Patrick Marley, Paul Seraganian, Chris Sheri-
dan, Chris Greenaway and Ramin Wright (corporate and tax).
Baring Private Equity Asia was represented by Ropes & Gray
LLP, with a team that included Neill Jakobe, Brian Schwarzwalder,
Elaine Murphy, Will Rosen, Andrew Dale, William Sussman, James
DeGraw, omas Burke, Deidre Johnson, Hunter Sharp and Patrick
Nash (corporate, M&A and tax).
Blake, Cassels & Graydon LLP was Canadian counsel to Bar-
ing Private Equity Asia. e team from Blakes comprised Jeff Lloyd,
Kurt Sarno, Neelu Toor,
Andrew Clark and Victoria
Locke (M&A), Jeffrey Shafer
(tax), Elizabeth Boyd (ben-
efits), Holly Reid (employ-
ment) and Gary Daniel (intel-
lectual property).
COMPILED BY GENA SMITH
TELUS CLOSES TELUS INTERNATIONAL TRANSACTION
WITH BARING PRIVATE EQUITY ASIA
