Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised Canadian pension fund OMERS Infrastructure Management (OMERS) on its acquisition of Stilmark Holdings (Stilmark), an independent telecommunications towers developer and investor.

OMERS is one of Canada’s largest defined benefit pension funds for municipal employees in the Province of Ontario, Canada with net assets of C$109 billion.  

Once closed, the transaction will add to OMERS’ growing portfolio of assets across Asia-Pacific and bolster OMERS’ position as Australia’s third-largest telecommunication tower owner. 

Corrs advised OMERS on all aspects of the acquisition, led by partners James North, James Morley and Robert Clarke, supported by partners Paul Burns, Jodi Gray, Michael Leong, Rhys Lloyd-Morgan, Simon Reid and other experts from across the Corporate, Financial Sponsors, Employment, TMT, Property, Environment, Banking and Finance, and Competition teams.

Commenting on the matter, Corrs’ Head of Technology, Media and Telecommunications James North said: “We are pleased to advise OMERS on this significant transaction as they continue to grow their portfolio through acquisition. 

“This builds on our track record of advising on the most strategically important transactions in the telecommunications industry.”

Christopher Curtain, Senior Managing Director, Asia-Pacific for OMERS Infrastructure, said: “Stilmark is an excellent fit for our new Australian digital infrastructure portfolio, as it complements our recent investment in TPG’s mobile tower and rooftop portfolio.

“OMERS Infrastructure is an active asset manager, seeking to grow OMERS investments across Asia-Pacific organically and through accretive acquisitions. We are proud of our activity across Asia-Pacific to support and grow our portfolio in key sectors including digital infrastructure, mobility and the energy transition.”

The closing of the transaction is expected in Q3 2022, subject to regulatory approvals.