Digita is the owner and operator of the premier nationwide digital terrestrial television and radio broadcasting tower infrastructure network in Finland. Founded in 1999 as a spin-off from national broadcaster Yle, Digita is Finland’s leading TV and radio broadcasting network and the only platform with the ability to reach nearly 100 percent of the Finnish population. The company is also Finland’s largest independent tower network owner, providing infrastructure solutions to the country’s largest mobile network operators. Digita will continue to be led by CEO Juha-Pekka Weckström and the existing management team.
The Ashurst team, which worked closely with Digital Colony's in-house team led by general counsel Geoffrey Goldschein, was led by digital economy head Nick Elverston and corporate transactions senior associate Tara Waters, with Tove Webster advising on the warranty and indemnity insurance aspects. Finance advice was provided by partner Derwin Jenkinson and associate Nicola Heather. Funds partner Isabelle Lentz and senior associate Paul Witte advised on Luxembourg law aspects. Partner Ross Mackenzie advised on competition matters, assisted by associate Nadja Huber with partner Nick Gardner and associate Rebecca Kell providing tax advice and counsel Eleanor Reeves advising on environmental aspects.
Advice in relation to Finnish law was provided by Waselius & Wist, led by partner Fredrik Lassenius. Bank of America Merrill Lynch and ICE Capital served as financial advisors to First State, with Roschier acting as legal advisor.
Nick Elverston, head of Ashurst's digital economy team comments:
"We are seeing a lot of activity in the digital infrastructure space, not least having previously advised First State on its acquisition of Digita and continuing to advise Digita on financing. This transaction is a great example of the current spate of investments in digital infrastructure triggered, in part, by the explosive growth of data, which also demonstrates the continued importance of traditional television, despite the growing ranks of cord cutters and cord-nevers."
