19 September 2005 – LAWFUEL – The Law News Network – Mayer, Brown, Rowe & Maw LLP has advised Interoute, the owner and operator of Europe’s most advanced data network, on the acquisition of VIA.NET.WORKS, a provider of business communications solutions to small and medium-sized enterprises.
Under the terms of the sale agreement, Interoute will acquire VIA NET.WORKS’ operations in Spain, France and Germany, in addition to all of its PSINet Europe operations in Germany, France, Belgium, the Netherlands and Switzerland. Completion of the transaction is conditional on usual matters, including shareholder approval. It is expected that the transaction will close in October 2005.
In addition, Interoute has agreed to:
acquire a 46% voting interest in VIA NET.WORKS, Inc through a $2.8 million common and preferred stock investment;
provide secured bridging finance of up to $7.2 million for the VIA NET.WORKS’ group working capital purposes until completion of the transaction.
The Mayer, Brown, Rowe & Maw team advising Interoute was led by corporate partner Peter Dickinson, assisted by corporate assistants David Bates, Chris McLoughlin and finance assistant Stephen Pascoe. Corporate partner David Carpenter provided US law advice.
