We advise 5GN on the sale of shares held in the Webcentral business

A cross-border team from global law firm Norton Rose Fulbright has advised 5G Networks Limited (ASX:5GN) (5GN) on the sale of shares held in Hosting Group TopCo SARL (TopCo) to existing majority shareholder Oakley Capital and another European-based investor.

5GN is an Australian-owned digital services company and leading provider of cloud enabling solutions. 

Under the terms of the deal, 5GN will sell its 27.2 per cent interest in TopCo – the ultimate owner of the Webcentral business sold by 5GN (formerly Webcentral Limited) to Oakley Capital and its investment partners in December 2023.

Oakley Capital is a European private equity firm with approximately €10 billion in assets under management.

The Norton Rose Fulbright team comprising local and internationally based lawyers advised on the deal including transaction structuring and negotiating and drafting of all key transaction documents.

Norton Rose Fulbright senior consultant Robert Sultan commented:

“It has been a pleasure to support 5GN in the final phase of the Webcentral business sale, which began in 2023. The deal is a great result for 5GN, and our global network of experienced lawyers has enabled the successful execution of this complex transaction.”

Melbourne-based corporate M&A partner Jeremy Wickens and M&A counsel Robert Sultan led the team supported by key team members including corporate M&A associates Bita Mozafari, Andrew Harris and Jack Abrehart. Jeremy and Robert were also supported by partner Torsten Sauer, senior associate Pierre Joubert and associate Katia Mazouz Bennaji from Norton Rose Fulbright’s Luxembourg team.

Norton Rose Fulbright has a strong continuing relationship with 5GN having previously advised:

• 5GN (then, Webcentral Limited ASX:WCG) on the sale of its retail domains and hosting business, for a total transaction value of A$165 million, and strategic partnership with Oakley Capital and its investment partners. https://www.nortonrosefulbright.com/en-au/news/3df7fab3/norton-rose-fulbright-advises-webcentral-on-the-sale-of-its-retail-domains-and-hosting-business; and prior to that

• 5G Networks on the merger of its business with Webcentral Limited (formerly Webcentral Group Limited) by way of a reverse takeover implemented via a scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth) between 5G Networks and its members. https://www.nortonrosefulbright.com/en-au/news/4a7e337b/norton-rose-fulbright-advises-5g-networks-on-merger-with-webcentral