Helios Towers Partners With Rakiza in $575 Million Omantel Tower Deal
Posted on 06/08/2022
Helios Towers plc is a telecommunications infrastructure company. Rakiza Telecommunication Infrastructure LLC, a wholly owned subsidiary of Oman Infrastructure Fund (Rakiza Fund), agreed to purchase a 30% minority stake in the newly-incorporated holding company for Omantel Telecommunications Company (S.A.O.G)’s passive infrastructure assets in Oman, with Helios Towers purchasing the remaining 70%. Helios Towers expects that the acquisition will close in or around the end of Q2 2022, subject to satisfaction of outstanding closing conditions. Helios Towers will retain operational control of the target assets. Helios Towers intends to finance the acquisition through its existing cash and available bank facilities.
On May 11, 2022, Helios Towers and Omantel entered into an agreement for Helios Towers to acquire Omantel’s passive tower infrastructure portfolio of 2,890 sites, for a cash consideration of US$ 575 million and representing an enterprise value of US$ 615 million, including the Helios’ estimate of transaction costs and capitalised ground leases of $40 million.
Helios Towers owns and operates telecommunication tower sites in Tanzania, Democratic Republic of Congo, Congo Brazzaville, Ghana, South Africa, Senegal, Madagascar, and Malawi.
