Baker McKenzie advises Ooredoo on minority stake sale

Baker McKenzie advised the Ooredoo Group in connection with the sale of a minority equity stake in its carrier-neutral data centre company, MENA Digital Hub, to American multinational Iron Mountain.

The context

Ooredoo created the MENA Digital Hub to support the region’s digital transformation. The company provides  colocation services to a public of both hyperscalers and enterprises.

Backed by a USD 1 billion investment, MENA Digital Hub is set to commence a capacity expansion plan reaching over 120 megawatts in the medium term. 

In connection with the deal, Boston headquartered multinational Iron Mountain secured a minority stake in the Hub. The buyer specialises in storage and information management services.

The team

Dubai corporate partner, Adnan Doha (pictured left) and London corporate partner Charles Whitefoord (pictured right) co-led the cross-border Baker McKenzie core team on the transaction. Dubai based associates Nicole Galledari and Ololade Odunubi completed the team, alongside London corporate associate Ethan McAuliffe.

The Baker McKenzie international team further included TMT partner Steve Holmes, tax partner Alistair Craig, tax senior associateTaras Varava (all based in London), compliance & investigation partner Geoff Martin (Washington DC), London real estate senior associates Hugo Jay and  Kate Austins,  as well as corporate associates Anastasia Boonen-Vaes  and Willem Jan Treuren (both Netherlands).

The Ooredoo Group’s general counsel Georges Abi Saab led the company’s legal team on the matter