S$580 million transfer of network assets from M1 Limited to M1 Network Private Limited and the investment by Keppel DC REIT into M1NPL

Acted for M1 Limited in the transfer by M1 Limited of certain of its certain mobile, fixed and fibre assets (comprising passive infrastructure and network equipment) (“Network Assets”) to its subsidiary, M1 Network Private Limited (“M1NPL”), for an aggregate cash consideration of approximately S$580 million, which was financed by M1NPl via an external bank loan and an investment from Keppel DC REIT. M&A Partners Lawrence Tan, Favian Tan and Tricia Teo led the transaction. Banking & Finance Partner Terence Choo acted in respect of M1NPL’s external financing and bond subscription aspects of the transaction. TMT Partner Benjamin Cheong and Construction & Projects, Energy and Resources Partner Shemane Chan acted in respect of the network services agreement.