Saudi Arabia-based Advanced Communications and Electronics Systems Company's subsidiary ACES India Private Limited has purchased the mobile network infrastructure assets which are in the process of installation at the upcoming terminal building at the Bangalore Airport, owned by BIAL.
The purchase was made through an asset transfer.
K Law advised ACES India on the deal.
The regulatory practice team, which consisted of Alok Sonker (Partner), Tripti Sinha (Counsel), Sandeep Kulkarni (CS) and Karthik Narayan (Associate) advised on setting up of the Indian operation and procuring the Unified License for VNO.
The transaction team, which consisted of Alok Sonker (Partner) and Karishma Jumani (Counsel), assisted with acquisition of certain assets and executing a mobile infrastructure services arrangement
According to a Mobile Infrastructure Services Agreement signed with BIAL, Aces plans to invest in, purchase, install, commission, operate, and maintain the BIAL Asset at the Bangalore Airport to provide mobile signal coverage. Aces will generate revenue from the operation of the BIAL Assets within the Bangalore Airport and share it with BIAL in order to monetize the BIAL Assets.