Addleshaw Goddard has advised communications business KCOM Group, on the £90m sale of its national network infrastructure (excluding that in Hull and East Yorkshire) to CityFibre.
The sale will see CityFibre acquire 1,100 route kms of metro network assets, covering 24 towns and cities, alongside a national long distance network totalling approximately 1,100 route kms that connects 22 areas.
The transaction will also see an agreement with CityFibre, for KCOM's continued access to the acquired assets (for a term up to fifteen years), subject to a minimum of five years and a revenue of £5m a year.
The legal deal team was led by KCOM Head of Legal Alison Blincow and supported Richard Goodfellow, Michael Birchall, Sara Gilmore and Duncan Wilson.
Richard Goodfellow stated: "During the course of 2015 there has been a limited number of listed deals done in the Yorkshire market, so its great to have been able to advise on KCOM's disposal."
The transaction will allow KCOM to invest further and continue with its ongoing plans to transform the business.