Ciena Corporation, a US based provider of communication network infrastructure, associated software and professional services has acquired the optical networking and carrier Ethernet assets of Canada-based Nortel Networks Corporation's Metro Ethernet Networks business.

Nortel Networks had, in early 2009, filed for bankruptcy in Canada. Nortel, one of North America’s biggest telecommunication equipment manufacturers had been struggling for some time and have been selling their assets for a while now.

The purchase price is reported to be around $774 million (Rs.3,500 crores) of which about $530 million (Rs. 2,394 crore) is in cash with the rest in senior convertible notes. The Indian leg of the acquisition was advised by the Delhi office of Luthra and Luthra law offices which advised Ciena. The Luthra team was led by Tax Partner Vikas Srivastava, Corporate Partner Samir Dudhoria, Indirect Tax Partner Sanjeev Sachdeva and Partner S.R. Patnaik. 

Nortel was represented by Baker, Donelson, Bearman, Caldwell & Berkowitz, and Cleary Gottlieb Steen & Hamilton in the US, and Ogilvy Renault in Canada.

Ciena’s legal team was led by US firm Latham & Watkins, along with Stikeman Elliott in Canada and Baker & McKenzie LLP from its offices across Latin America. Hogan & Hartson also provided antitrust and securities advice. Ciena’s in house team led by General Counsel David Rothenstein assisted by Erik Lichter, Kevin Mercer and Tyler Brown were also involved with the transaction.

Globally, the transaction had multiple law firms with over 200 counsels advising the transaction. Latin Lawyer has complied a brief of the transaction along with a detailed list of counsel, which is available here.

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