NII Holdings Announces Sale Of Nextel Brazil To América Móvil

Hogan Lovells Luxembourg assisted NII Holdings, Inc. regarding the sale of its 70% interest in its operations in Brazil, currently doing business as Nextel, to América Móvil, S.A.B. de C.V. through the sale of its wholly-owned subsidiary NII Brazil Holdings S.à r.l.

Additionally, in connection with the transaction, AI Brazil Holdings B.V. agreed to sell its 30% interest in Nextel Holdings S.à r.l. so that América Móvil will be the sole owner of Nextel following the transaction. The whole transaction, announced on 18 March 2019 and subject to closing conditions, represents a total consideration of USD 905 million on a debt-free and cash-free basis.

For more details, please see NII press release here.

The transaction was led by Marc Elvinger (partner), assisted by Alexander Koch (counsel), Benoit Serraf (senior associate) and Kim Tang (associate), all from the corporate practice team.

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