Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering sector specialist advice across the TMT sector, has advised Daisy Intermediate Holdings Limited (“Daisy”) on its recommended cash offer for Alternative Networks plc (“Alternative” or the “Company”). The offer at 335p per Alternative share values the Company’s shares at approximately £165m and is expected to be executed by way of a scheme of arrangement before the end of the year. Oakley acted as sole financial advisor to Daisy on the offer and the process is a further example of Oakley’s strength and capability in public deals. The Oakley team was led by Chris Godsmark, Managing Partner and included Zishaan Arshad and Marc Jones, Assistant Directors.
Chris Godsmark, Managing Partner at OAL, commented:
“We are delighted to have advised Daisy on the offer for Alternative. We have worked with Daisy since 2008, including the reverse IPO in 2009 and the take-private in 2015 and have helped the business grow into the leading independent business to business telecoms operator in the UK. The Alternative offer process demonstrates our capability in PLC deals including advice on the Code and cash confirmation.”
Oakley Advisory Limited (“OAL”) is one of Europe’s leading independent corporate finance firms offering expert, specialist advice across a range of sectors including Telecoms, Technology, Online, Media, Datacentres and Hosting. We are unique in the mid-market in offering highly specialised sector insight and knowledge combined with our Equity Capital Markets capability, meaning we can provide a complete suite of advice across both public and private markets.This deal is the latest in a series of UK telecoms and managed services deals for Oakley in 2016 after advising Metronet (UK) on its acquisition of M247, Modrus on its sale to Nasstar, Beech Tree Private Equity on its investment in Wavenet, Optimity on an investment by FPE Capital, Southern Communications on an investment by Livingbridge, KCOM on the sale of its core fibre network to Cityfibre and Maintel on its acquisition of Azzurri.