Latest News

IHS Towers completes Helios Towers acquisition

14 Jun 2016, 08:07 am
Financial Nigeria
IHS Towers completes Helios Towers acquisition

News Highlight

- IHS said it is committed to maintaining HTN's existing relationship and position with its bondholders.

A telecom tower

IHS Towers, Africa’s leading telecoms infrastructure firm, has completed its acquisition of Helios Towers Nigeria (HTN), a telecoms infrastructure firm in Nigeria.

Under the terms of the transaction, IHS acquired the entire issued share capital of HTN. HTN’s operational assets, including 1,211 towers, will now be integrated into IHS’s network and connected to its operating centre, which monitors each tower.

“The completion of this transaction is significant in that it combines Africa’s two original tower companies and will enable us to strengthen our service offering to our customers while focusing on their needs,” Issam Darwish, IHS’s Executive Vice Chairman & Group Chief Executive Officer, said in a statement on Monday. “We remain committed to the Nigerian tower market and this transaction provides IHS the opportunity to optimise a larger portfolio through innovative green energy solutions and delivery of market leading quality of service.”

IHS said it is committed to maintaining HTN's existing relationship and position with its bondholders and a meeting of bondholders held on 22 April, 2016 agreed to waive any redemption rights, which may have arisen in respect to the change of control.  

“IHS has a proven track record in telecoms infrastructure services and is the natural buyer of our business,” said Inder Bajaj, HTN’s Chief Executive Officer. “We strongly believe their deep knowledge and extensive experience in the sector will help to continue the strong level of customer service achieved by HTN.”

Founded in 2001, IHS is the largest mobile telecommunications infrastructure provider in Africa, Europe, and the Middle East. The company provides services across the full tower value chain and owns over 23,300 towers in Nigeria, Cameroon, Côte d’Ivoire, Zambia and Rwanda. IHS owns over 15,000 towers in Nigeria, its biggest market.

Related News