Helios Towers has agreed to acquire Airtel Africa Group’s passive infrastructure operating companies in Madagascar and Malawi for $108 million.
These acquisitions are expected to close in or around the fourth quarter of 2021.
As part of the deal, Helios Towers could also potentially acquire Airtel’s passive infrastructure assets in Chad and Gabon. The group is expected to complete the acquisition of Airtel Africa’s passive infrastructure assets in these countries in or around the first quarter of 2022.
The transactions represent 2,227 existing sites across Madagascar, Malawi, Chad and Gabon. Following the deal, Helios Towers is expected to become the largest independent telecommunications infrastructure company in each of Malawi, Chad and Gabon, with a strong market share in Madagascar, and will increase the company’s geographic presence to 10 markets.
The transactions will be financed through Helios Towers’ existing cash and debt facilities.