Airtel Africa PLC First Closing of Tower Sale in Madagascar (1232R)
November 03 2021 - 3:18AM
UK Regulatory
TIDMAAF
RNS Number : 1232R
Airtel Africa PLC
03 November 2021
Airtel Africa plc
("Airtel Africa", or the "Group")
First Closing of Tower Sale Transaction in Madagascar
London and Lagos, 3 November 2021: Airtel Africa, a leading
provider of telecommunications and mobile money services, with a
presence in 14 countries across Africa, today announces the first
closing of the transaction to sell its telecommunications tower
company in Madagascar to Helios Towers plc, a leading independent
telecommunications infrastructure company in Africa.
The gross consideration for the transaction will be $51.7m.
Under the terms of the transaction, the Group's Airtel Africa's
subsidiary will continue to develop, maintain and operate its
equipment on the towers under separate lease arrangements, largely
made in local currencies, with the purchaser.
The proceeds from the transaction will be used to reduce Group
external debt and to invest in network and sales infrastructure in
Madagascar.
-ENDS-
Enquiries
Airtel Africa - Investor Relations
Pier Falcione
Morten Singleton
Investor.relations@africa.airtel.com +44 207 493 9315
Hudson Sandler
Nick Lyon
Bertie Berger
airtelafrica@hudsonsandler.com +44 207 796 4133
About Airtel Africa
Airtel Africa is a leading provider of telecommunications and
mobile money services, with a presence in 14 countries in Africa,
primarily in East Africa and Central and West Africa.
Airtel Africa offers an integrated suite of telecommunications
solutions to its subscribers, including mobile voice and data
services as well as mobile money services both nationally and
internationally.
The Group aims to continue providing a simple and intuitive
customer experience through streamlined customer journeys.
www.airtel.africa
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