Legal Innovations In Submarine Cable Projects

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Recent years have seen a renewed levels of investment into the submarine cable sector, especially in emerging markets such as Africa and the Asia-Pacific region. Some of these have brought with them some interesting legal and structural innovations. In this article I will aim to discuss, briefly, the innovations that I am aware of, or have been involved in myself. I will end with some legal points concerning the sales of IRUs.

Sale and Leaseback -

During 2013, the Brazilian investment bank and asset manager BTG Pactual purchased the Globenet submarine cable network (with its 22,500km of cable infrastructure) from Brazilian telecoms operator Oi. The acquisition was valued in the region of US$ 750m, making it one of the largest ever submarine cable acquisition anywhere in the world.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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