KKR to Acquire Entel’s Fiber Optic Network in Chile
10.28.22
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The Firm represented KKR in connection with OnNet Fibra’s acquisition of the telecommunications company Entel’s fiber optic infrastructure in Chile. OnNet Fibra is a joint venture controlled by KKR as majority shareholder. Telefónica Chile SA is the minority shareholder in OnNet Fibra.
This transaction will enable Entel to continue offering internet services for residences on OnNet’s network. Following the closing of this transaction, OnNet Fibra’s network is expected to reach more than 4.3 million homes in 2024.
The transaction is expected to be consummated in the first half of 2023, once all relevant approvals have been obtained.
The Simpson Thacher team included Robert Meyer, Andrea Valdes and Austin Vance (Credit); Breen Haire, Ana Sanchez and Michael Spirtos (M&A); and Nancy Mehlman and William Smolinski (Tax).