De Brauw has advised NOVEC on a transaction regarding 75% of the shares in Open Tower Company.

Nature of transaction
De Brauw acted as legal advisor of NOVEC B.V. (100% subsidiary of TenneT) in a transaction regarding 75% of the shares in Open Tower Company B.V. In this transaction, CIF (a fund with long-term investments in telecommunication infrastructures) sold its 75% interest in Open Tower Company. As a result of the transaction the general pension fund for public employees ABP will become the new joint venture partner of NOVEC. NOVEC's 25% shareholding in the joint venture will remain unchanged.

Value of transaction
Undisclosed, but more than 5 million

De Brauw involvement
Legal advisor to NOVEC B.V.

Other advisors
Janssen Broekhuysen Advocaten acted as legal counsel to CIF
ING Corporate Finance acted as financial advisor of CIF
Clifford Chance acted as legal counsel to ABP

De Brauw lead partner
Anja Mutsaers

De Brauw team
Constantijn Voogt, Kees Kraaiveld, Heleen Koggink, Bart van Heeswijk