London, 25 March 2022: Helios Towers plc ("Helios Towers"), the independent telecommunications infrastructure company, today announces it has closed the acquisition of Airtel Africa's passive infrastructure company in Malawi, adding 723 sites to its portfolio.
The gross consideration for the transaction will be US$55 million, of which 20% is funded by Old Mutual Infrastructure Investment Trust Fund, representing a local Malawian shareholding of 20%, in-line with the local telecommunications infrastructure licence requirements previously disclosed.
Helios Towers and Airtel Africa have also entered into a 12-year service agreement on the acquired assets, which, in-line with prior communications, are expected to deliver revenues of US$23 million and Adjusted EBITDA of US$8 million in the first full year of ownership, with further growth anticipated through 60 committed build to suits over the next three years and colocation lease-up.
For further information, please contact:
Helios Towers Investor Relations:
Chris Baker-Sams, Head of Strategic Finance and Investor Relations
+44 (0)752 310 1475
Edward Bridges / Stephanie Ellis
FTI Consulting LLP
+44 (0)20 3727 1000
About Helios Towers
Helios Towers is a leading independent telecommunications infrastructure company, having established one of the most extensive tower portfolios across Africa. It builds, owns and operates telecom passive infrastructure, providing services to mobile network operators.
Helios Towers owns and operates telecommunication tower sites in Tanzania, Democratic Republic of Congo, Congo Brazzaville, Ghana, South Africa, Senegal, Madagascar and Malawi. Following recent acquisition agreements and subject to regulatory approval, Helios Towers expects to establish a presence in two new markets across Africa and the Middle-East. Including these acquisitions and committed BTS, the Group's total site count is expected to increase from over 10,000 towers to over 14,000.
Helios Towers pioneered the model in Africa of buying towers that were held by single operators and providing services utilising the tower infrastructure to the seller and other operators. This allows wireless operators to outsource non-core tower-related activities, enabling them to focus their capital and managerial resources on providing higher quality services more cost-effectively.
For more information about Helios Towers, please visit: https://www.heliostowers.com/investors/