We have advised Proximus in the completion of their €643m acquisition of a 58% stake in Route Mobile, a global company specialised in CPaaS services and listed in India. The acquisition also triggered a mandatory tender offer under the Indian takeover regulations, which resulted in the acquisition of an additional 24,99% stake in Route Mobile for an amount of approximately €293m. Following this acquisition, some founding shareholders of Route Mobile have reinvested approximately €299m in Proximus Opal, one of Proximus’ subsidiary, to acquire a 12.72% stake in Proximus Opal.
This transaction enhances Proximus’ position as a leader in the CPaaS and digital identity sectors. This acquisition is a pivotal component of Proximus’ strategy, aimed at reinforcing its leadership in the domestic market while expanding its international footprint. It also marks a transformational step for Proximus, combining the strengths of Route Mobile and Telesign to create a robust product suite and realize substantial value for shareholders.
The acquisition, an all-cash transaction, has been financed through the issuance of a bond in March 2024.
The multijurisdictional team was led by Eric Pottier (Partner, Brussels) with the support of Viktor Pokorny (Managing Associate, Brussels), Tanaya Rajwade (Associate, London), and Philippe de Lathuy (Associate, Brussels).
Thierry L’Homme (Senior Counsel, Brussels), Jonathan Gafni (Senior Counsel, Washington DC), Francis Wijnakker (Counsel, Brussels) and Sophie Noirfalisse (Associate, Brussels).