Locke Lord Advised Murosa Development and Columbia Ventures in Sale of Hibernia to GTT Communications for Gross Proceeds Over $600 Million

Locke Lord acted as counsel to Murosa Development S.a.r.L. and Columbia Ventures Corporation in the sale of all of the shares of Hibernia NGS Limited to GTT Communications, Inc. for gross proceeds in excess of $600 million, consisting of approximately $535 million in cash plus 3.3 million shares of common stock in GTT. Hibernia is a high-speed network connectivity solutions provider with an extensive fiber network that includes two London-New York fiber cables, including the lowest latency (fastest) link between the two financial hubs. The transaction was signed on Nov. 9, 2016 and closed on Jan. 9, 2017. The Locke Lord team was led by Jeff Jefferson and Bob Baute (both of Providence) and included Peter Barrett, Joe Farside, Gene McDermott and Paul Cotter (all of Providence), Ben Ferrucci, Karl Fryzel and Jim Rubens (all of Boston), Jason Ulezalka (New York) and Julie Dziobak (Chicago).  
Posted May 16, 2017