Judicial Reorganisation Court ratifies sale of Oi’s InfraCo unit

9 Jul 2021

In a notice to its shareholders and the market, Brazilian telecoms operator Oi has confirmed that the 7th Corporate Court of the Capital of the State of Rio de Janeiro (the Judicial Reorganisation Court) has approved the previously agreed sale of its InfraCo unit to a consortium comprising BTG Pactual Economia Real Fundo de Investimento em Participacoes Multiestrategia and Globenet Cabos Submarinos.

As previously reported by CommsUpdate, the deal was agreed in January 2021, with the terms subsequently renegotiated April. A majority stake in InfraCo will be sold in a three-pronged transaction valued at BRL11.404 billion (USD2.173 billion).

Brazil, GlobeNet Cabos Submarinos, Oi