Telecommunications infrastructure provider IHS Holding has announced plans to acquire Helios Towers Nigeria’s (HTN’s) portfolio of 1 211 tower sites in the West African nation.
The deal, which is subject to regulatory approval, will see IHS acquiring the entire issued share capital of HTN from HTN Towers Plc, which is ultimately owned by Helios Investment Partners, Pembani Group, First City Monument Bank and other minority shareholders.
“Upon completion of the transaction, IHS will have full operational control of the underlying business and will market independent infrastructure sharing services to mobile network operators and internet service providers in Nigeria,” IHS said in a statement on Thursday.
Business will continue as usual for HTN’s towers, which will be integrated into the IHS network and connected to IHS’s network operating centre.
The transaction is expected to close in the second quarter of 2016. The value of the deal has not been disclosed.
“The net leverage position of the combined entity is likely to be approximately 50% lower than the current HTN standalone leverage position,” IHS said.
“In addition, there are meaningful synergies that management believes will be derived from the transaction given a considerable part of the IHS portfolio is located in Nigeria.” — © 2016 NewsCentral Media