Ooredoo Advances Digital Goals with Strategic Stake Sale
Deal News | Feb 19, 2025 | Legal Community MENA
Baker McKenzie advised the Ooredoo Group on the sale of a minority equity stake in its MENA Digital Hub, a carrier-neutral data centre company, to Iron Mountain, a Boston-based multinational. The transaction is part of Ooredoo's strategy to support digital transformation in the Middle East and North Africa (MENA) region, with MENA Digital Hub receiving a $1 billion investment to expand its capacity to over 120 megawatts. The cross-border legal team from Baker McKenzie, led by Dubai and London corporate partners, included experts from various practice areas such as tax, compliance, and real estate, reflecting the complexity of the transaction. This deal aligns with Iron Mountain’s expertise in storage and information management, marking a significant step in advancing Ooredoo’s digital infrastructure ambitions.
Sectors
- Telecommunications
- Data Centers
- Legal Services
- Storage and Information Management
Geography
- Middle East and North Africa (MENA) – The MENA Digital Hub is focused on supporting digital transformation in the MENA region.
- United States – Iron Mountain is headquartered in Boston, United States and is a key participant in the transaction.
- United Arab Emirates – Ooredoo is involved in this transaction through its operations in the UAE, specifically the Dubai-based team from Baker McKenzie.
- United Kingdom – Baker McKenzie's London office was heavily involved, with several team members working on the transaction.
Industry
- Telecommunications – Ooredoo operates in the telecommunications sector and the MENA Digital Hub is an extension of its digital service offerings in the data centre market.
- Data Centers – MENA Digital Hub operates in the data centers industry, offering colocation services vital for digital transformation.
- Legal Services – Baker McKenzie's involvement in advising Ooredoo highlights the role of legal services in structuring and executing complex international deals.
- Storage and Information Management – Iron Mountain's business specialization relates to storage and information management, aligning with their acquisition of the stake in MENA Digital Hub.
Financials
- USD 1 billion – Investment backing the MENA Digital Hub for capacity expansion.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ooredoo Group | Target Company | Company | Ooredoo is a telecom operator involved in selling a minority stake in its subsidiary MENA Digital Hub. |
| MENA Digital Hub | Target Company | Company | A carrier-neutral data centre company under Ooredoo, aimed at enhancing the region's digital capabilities. |
| Iron Mountain | Bidding Company | Company | A Boston-based multinational acquiring a minority stake in MENA Digital Hub. |
| Baker McKenzie | Legal Advisor | Company | An international law firm advising Ooredoo on the transaction. |
| Adnan Doha | Dubai Corporate Partner | Person | Co-leader of the Baker McKenzie team on the transaction. |
| Charles Whitefoord | London Corporate Partner | Person | Co-leader of the Baker McKenzie team on the transaction. |
| Georges Abi Saab | General Counsel | Person | Led Ooredoo's internal legal team for the transaction. |