2025 Winners

DigitalBridge, La Caisse acquire Yondr for US$5.8bn.

For acquisition by DigitalBridge and La Caisse of Yondr Group from Cathexis Holdings for c. US$5.8bn.
Financial Advisors: Citi (Sell Side); Morgan Stanley (Buy Side – La Caisse)​
Legal Advisors: White & Case (Sell Side); Clifford Chance (Buy Side – La Caisse), Linklaters (Buy Side – DigitalBridge)​

CVC DIF’s c. US$1bn TDF Fibre unit purchase

For the acquisition by CVC DIF of 100% of TDF’s Fibre business for c. US$1bn.
Financial Advisors: BNP Paribas, DC Advisory (Sell Side); Lazard (Buy Side)​
Legal Advisors: De Pardieu Brocas Maffei, Hogan Lovells (Sell Side); Freshfields (Buy Side)​

PTI acquires Cellnex Ireland for E971m

Phoenix Tower International’s acquisition of Cellnex’s business in Ireland for E971m. 
Financial Advisors: Barclays PLC, Banco Santander (Sell Side); Nomura (Buy Side)​
Legal Advisors: Matheson (Sell Side); Arthur Cox (Buy Side)​

£15bn VodafoneThree merger​

For the merger deal of Vodafone UK and Three UK, by Vodafone and CK Hutchison for £15bn.
Financial Advisors: HSBC, Moelis & Company (Three UK); Goldman Sachs, Morgan Stanley, Robey Warshaw (Vodafone UK)​
Legal Advisors: Freshfields, Linklaters (Three UK); Slaughter & May (Vodafone UK)​

£3.3bn Data4 dual-financing package

The structuring of a E3.3bn dual-financing package, divided into E2.2bn of new term debt to refinance 10 operational datacentres (‘StableCo’) and a E1.1bn incremental capex facility (‘GrowthCo’).
Lenders: MUFG, Natixis, SMBC, Société Générale; ABN Amro – report​
Legal Advisors: Linklaters (Data4 – StableCo); Simmons & Simmons (Data4 – GrowthCo); Clifford Chance (Lenders)​

XpFibre’s multi-tranche E5.8bn refinancing​

The multi-tranche E5.8bn refinancing, including bank facilities, inaugural institutional private placement, and capex facility, and a bridge-to-private placement.
Financial Advisors: BNP Paribas, DC Advisory Lenders: BNP Paribas, Credit Agricole, ING, MUFG, Natixis and Société
Générale (Underwriters – report) Legal Advisors: Latham & Watkins (Borrowers); A&O Shearman (Lenders)​

Telekom Srbija's US$900m international corporate eurobond

The issuance of US$900m in international corporate eurobond.
Participating Banks: BNP Paribas, Bank of America, Deutsche Bank, Erste Group, Raiffeisen bank, UniCredit and MUFG​
Legal Advisors: Clifford Chance; Gecić Law​

KKR acquires Gulf Data Hub stake

The acquisition of a stake in Gulf Data Hub by KKR.
Financial Advisors: JPMorgan (Sell Side); Jefferies, RBC Capital Markets (Buy Side)​
Legal Advisors: Baker McKenzie (Sell Side); Gibson, Dunn & Crutcher (Buy Side)​

Linklaters

For advising DigitalBridge on its US$5.8bn acquisition of Yondr Group

Lazard

Lazard

Clifford Chance