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Verizon Communications Inc completes acquisition of Vodafone Group Plc's 45 pct indirect interest in Verizon Wireless

Friday, 21 Feb 2014 09:36am EST 

Verizon Communications Inc:Completes acquisition of Vodafone Group Plc's 45 percent indirect interest in Verizon Wireless in a transaction valued at about $130 billion.As previously announced, pursuant to the stock purchase agreement, Verizon issued 1,274,764,121 common shares to shareholders of Vodafone as the stock portion of the consideration for Vodafone's 45 percent indirect interest in Verizon Wireless.Says it has used proceeds from capital markets transactions occurring in September 2013 and February 2014, as well as $6.6 billion borrowed on Feb. 21 under its Term Loan Credit Agreement, for the payment of the cash portion of the consideration to Vodafone and related fees and expenses.Guggenheim Securities LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Paul J. Taubman served as lead financial advisers to Verizon.Barclays and BofA Merrill Lynch served as financial advisers to Verizon.Wachtell, Lipton, Rosen & Katz and Macfarlanes LLP served as transaction counsel to Verizon.Debevoise & Plimpton LLP advised Verizon on its debt financing. 

Company Quote

0.615 +1.28%
24 Oct 2014