FNI acquisition of Djezzy from GTH

Overview:

• FNI (Algeria’s Fonds National d’Investissemen), a strategic investment fund, acquired a 51% stake in telecoms company (Orascom Télécom Algérie) Djezzy from Egypt's Global Telecom Holding, a VimpelCom group subsidiary, for $2.643 billion. 
• The parties signed a share purchase agreement April 18, 2014 and closed the deal eight months later. 
• Global Telecom Holding will still hold operational control over Djezzy.
• At the completion of this transaction Global Telecom Holding ended its international arbitration against the state of Algeria and the arbitration parties settled all related claims. 
• UBS acted as financial adviser to VimpelCom.

Rani Mehta - Journalist