Freshfields Steers 3 PE Firms' $3.3B Bid For Spain's MasMovil

Law360 (June 1, 2020, 7:17 PM EDT) -- MasMovil, Spain's fourth-largest phone operator, said Monday that three private equity firms advised by Freshfields Bruckhaus Deringer LLP made a roughly €3 billion ($3.3 billion) bid to take the company private and acquire equal stakes in one of the largest takeovers announced during the coronavirus pandemic.

Providence Equity Partners LLC, Cinven and Kohlberg Kravis Roberts & Co. LP agreed to purchase all of MasMovil's more than 131 million shares at the price of €22.50 each, according to an approval request filed with Spain's National Securities Market Commission. That's a more than 20% premium from yesterday's closing price.

The deal, made through...

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