Miami Team Part Of Jones Day's $1.4 Billion Deal
A team of lawyers from Jones Day, including Miami lawyer Rafael Aguilar, advised Orange S.A., formerly France Telecom, in the $1.435 billion sale of its Dominican affiliate, Orange Dominicana S.A., to Luxembourg-based Altice.
The deal announced Nov. 27 is expected to close next year pending approval of Dominican regulatory authorities.
The Jones Day team was led by Sao Paolo partners Luis Riesgo and Marcello Hallake, Paris partner Linda Hesse and other partners in Sao Paolo, New York, London, Mexico, Madrid and Miami, including Aguilar.
Orange, France's largest phone company, set out to auction off its Dominican affiliate, according to Aguilar. Altice made the best offer out of several received.
"Orange had other mobile operations in Latin America, which it had gradually sold, and Orange Dominicana was the last remaining one," Aguilar said. "It didn't make sense to hold on to the Dominican operations after Orange had divested its other Latin American holdings."
Credit Suisse and Messier Maris et Associes served as financial advisers to Orange. Jimenez Cruz Pena Abodados advised Orange on matters in the Dominican Republic. Franklin Associes, Castillo & Castillo and Ropes & Gray served as legal counsel to Altice.
Orange Dominicana, established in 2000, is a leading telecommunication operator in the Dominican Republic. The company posted revenues of $22.8 billion in 2012, has 1,400 employees and had 3.4 million subscribers as of Sept. 30.