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Allens acts for Telecom NZ on AAPT consumer division and iiNet sale

3 August 2010

Allens Arthur Robinson (Allens) has acted for Telecom New Zealand on the sale of AAPT Limited's consumer division and the sale of its stake in iiNet Limited.

The transaction includes a binding agreement with iiNet where AAPT will sell its consumer division to iiNet – valued at A$60 million.

In an additional transaction, Telecom NZ has sold its 18.2 per cent stake in iiNet to institutional and sophisticated investors for approximately A$70 million.

Allens, led by Partner Ian McGill, advised Telecom NZ on all aspects of the transactions.

Allens has a long-time relationship with Telecom NZ, acting on its Australian legal requirements and has a decade-long relationship with its Australian subsidiary, AAPT.

'Allens provided seamless advice across a number of issues in relation to the deal. We are very happy with the excellent level of service provided by Ian and his team,' said David Bricklebank, Telecom NZ's Senior Counsel - Finance & Commercial.

According to Mr McGill: 'It was a privilege to act for Telecom NZ on what was a complex transaction and one that further strengthens the strong relationship between Telecom and Allens.

'The deal was signed in a fairly short space of time and it was a pleasure to work with all of the parties and advisers involved.'

Allens legal team

Lead Partner: Ian McGill (Partner – Sydney)

Corporate: Guy Alexander (Partner and Co-Head of M&A – Sydney), Jeremy Low (Partner – Sydney), Robert Speed (Senior Associate – Sydney), Matthew Ireland (Senior Associate – Sydney), Alicia Moody (Lawyer – Sydney) and Matthew Vitins (Lawyer – Sydney).

Competition: Wendy Peter (Partner – Melbourne) and Verity Quinn (Senior Associate – Melbourne).

Tax: Larry Magid (Partner – Sydney), Ross Stitt (Partner – Sydney) and Thomas McAuliffe (Senior Associate – Sydney)

Ends

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Notes for editors.

Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.