Baker McKenzie has advised Ooredoo Group on its landmark strategic partnership, which will see the global leader in information management services, Iron Mountain, take a minority equity stake in Ooredoo’s carrier-neutral data centre company, MENA Digital Hub.
Ooredoo Group currently has data center operations across the MENA region. The partnership will enable it to expand its MENA footprint of hyperscale and AI data centre infrastructure, combining the strength of the company’s local development and operational track record with Iron Mountain’s global operating expertise.
As part of its strategic vision to focus on the core and monetise the digital infrastructure demand in the region, Ooredoo established MENA Digital Hub to pioneer the region’s digital transformation by providing cutting-edge colocation services to hyperscalers and enterprises. As part of its strategic growth, the company plans to expand its capacity to over 120 megawatts through a USD 1 billion investment in the medium term.
With data centres across five markets, Ooredoo continues to lead the MENA region’s data centre market. Ooredoo’s existing partnerships with key hyperscalers puts the company in a unique position to leverage the strong tailwinds in the sector and maximise its business and financial outcomes.
Led by Dubai Corporate Partner, Adnan Doha and London Corporate Partner, Charles Whitefoord, the cross-border Baker McKenzie core team included: Nicole Galledari (Corporate Associate, Dubai), Ololade Odunubi (Corporate Associate, Dubai) and Ethan McAuliffe (Corporate Associate, London).
The wider Baker McKenzie team included: Steve Holmes (TMT partner, London), Alistair Craig (tax partner, London), Taras Varava (tax senior associate, London), Geoff Martin (compliance & investigations partner, Washington DC), Hugo Jay (real estate senior associate, London), Kate Austins (real estate associate, London), Anastasia Boonen-Vaes (corporate associate, Netherlands) and Willem Jan Treuren (corporate associate, Netherlands).
Commenting on the transaction, Adnan Doha said, “We are delighted to have worked with Ooredoo Group on this strategic transaction, which will accelerate the expansion of its data centre platform and support its future growth. It is another important transaction for our busy digital infrastructure teams in Dubai and London and demonstrates the strength and expertise of our cross-border team.”
The Ooredoo Group legal team was led by its general counsel, Georges Abi Saab. He commented, “This landmark partnership enables us to expand our MENA footprint of hyperscale and AI data centre infrastructure. The successful completion of this transaction is a testament to the outstanding efforts of the Baker McKenzie team, working closely with us to achieve this transaction.”
Moelis & Company acted as financial adviser to Ooredoo Group. A&O Shearman acted as legal advisor to Iron Mountain.
