MBK Partners/TPG Capital HK$9.5 billion acquisition of Wharf T&T

Overview:

• An Asian private equity consortium, MBK Partners and TPG Capital, are set to acquire Wharf T&T, the Hong Kong telecommunications unit of conglomerate The Wharf. It is one of the largest telecom deals in Hong Kong recently.
• The Wharf, who also owns i-Cable Communications and Wharf T&T, will refocus on property development and investments.
• Wharf T&T is Hong Kong's second largest fixed-line corporate operators in Hong Kong, while i-Cable is one of Hong Kong's main cable television broadcasters and a provider of broadband internet services.
• The transaction is expected to complete in November, subject to regulatory clearance. 
• Clifford Chance (Andrew Whan, Anthony Wang) advised the acquirers.
• Deacons (Ronny Chow) advised The Wharf.
• Freshfields Bruckhaus Deringer (Alastair Mordaunt, Edward Freeman) is advising The Wharf on antitrust and regulatory matters of the transaction. 

Wai Yee Tsang - Journalist - Asia-Pacific