Proximus Opal Sa share purchase agreement to acquire 57.56% stake in Route Mobile Limited (NSEI:ROUTE) from a group of shareholders for INR 59.2 billion on July 17, 2023. As per the transaction, Proximus Opal Sa will acquire 36.4 million shares at INR 1,626.4 per share. The aforementioned transaction is subject to necessary statutory and regulatory approvals under applicable laws which is currently in progress.

Morgan Stanley & Co. International plc acted as financial advisor and Eric Pottier, Thierry L?Homme, Jonathan Gafni and Francis Wijnakker of Linklaters LLP (Belgium) and Raghubir Menon, Manan Mehta, Yogesh Chande, Deepa Rekha R, Zubin Mehta, Sumant Prashant, Mohit Bhatia, Shardul Amarchand Mangaldas & Co acted as legal advisors to Proximus Opal Sa. Nicholas A. Dorsey, Kelly M. Smercina, Christopher K. Fargo, Kiran Sheffrin, Sasha Rosenthal-Larrea, Jonathan J. Katz, David Crampton, Noah Joshua Phillips and Benjamin G. Joseloff of Cravath, Swaine & Moore LLP, Slaughter and May, Nicolas de Crombrugghe, Olivier Van Wouwe, Don Baudewyns, Hussein Dagher, Vincent Wellens, Sigrid Heirbrant, Ken Lioen, Aurélien Lenaerts, Mauricette Schaufeli, Evi Mattioli, Jurriaan Bos, Philippe François and Frédérique Czanik of NautaDutilh N.V. and Vaidhyanadhan Iyer and Roxanne Anderson, Devika Nayak and Farah Titina of AZB & Partners acted as legal advisors to Route Mobile Limited. Ernst & Young Private Limited, Investment Banking Arm acted as financial advisor to Route Mobile Limited.

Proximus Opal Sa completed the acquisition of 57.56% stake in Route Mobile Limited (NSEI:ROUTE) from a group of shareholders on May 8, 2024. Following receipt of regulatory clearances and finalization of the MTO process, the Route Mobile transaction has been completed today.