IHS AWARDED MIDDLE EAST & AFRICA DEAL OF THE YEAR AT TELECOMFINANCE AWARDS 2013
12 February 2013: IHS, Africa’s largest independent infrastructure tower company by number of towers managed, has won the Middle East & Africa Deal of the Year Award at the TelecomFinance Awards held in London on 30 January 2013.
IHS won the award for its US$284 million acquisition of 1,758 mobile network towers in Côte d’Ivoire and Cameroon from MTN Group in October 2012. A member of the independent panel of judges who selected the winners said; “this deal enabled IHS to consolidate its position as a first tier player on the competitive African tower stage.”
Under the acquisition terms, MTN becomes the anchor tenant on towers acquired by IHS through a sale-and-leaseback agreement. IHS will manage the mobile network towers and other passive infrastructure. The agreement also included a commitment between the parties for IHS to roll-out a build-to-suit programme to support MTN’s future tower requirements in both countries.
￼Issam Darwish, CEO of IHS, said:
“The award comes after another strong year for IHS. We now have over 5,000 towers under management and have raised over $700 million to support our growth across Africa and the Middle East. We are delighted to receive this award and for the team to be recognized for its hard work and dedication to delivering the best value for leading mobile operators in the region.
In 2013, we will be advancing our leading position in the market with further acquisitions. Our focus remains on improving the value of investments through enhanced infrastructure and an increased drive for energy efficiency in all markets.”
The TelecomFinance Awards recognize the leading banks and deals of each year. For each of the categories, the TelecomFinance editorial team selected a shortlist of the top transactions in three regions – Europe, Middle East & Africa and Asia – and an independent panel of experts voted to determine the winners.