10 June 2016; Lagos, Nigeria: IHS Holding Limited (“IHS”), the largest mobile telecommunications infrastructure provider in Africa, Europe and the Middle East, has completed the acquisition of Helios Towers Nigeria Limited’s (“HTN”) 1,211 diversified tower sites throughout Nigeria. HTN and IHS established the mobile telecommunications infrastructure industry in Nigeria in the early 2000s and this transaction, announced on the 10th of March 2016, is the first in-market consolidation in Africa.
Under the terms of the transaction, IHS acquired the entire issued share capital of HTN and now has full operational control of the underlying business. Business will continue as usual for HTN’s towers which will be seamlessly integrated into the IHS network and connected to IHS’s state of the art network operating centre which monitors each tower 24 hours a day, seven days a week.
The transaction allows for the continued delivery of best-in-class solutions to customers and additional investment in infrastructure upgrades. IHS 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 believes the benefits of the transaction extend to all stakeholders as there are meaningful synergies that will be derived from the transaction given a considerable part of the IHS portfolio is located in Nigeria. IHS will work to roll out its renewable energy solutions and diesel reduction initiatives whilst maintaining unparalleled network uptime.
Inder Bajaj, Chief Executive Officer of HTN, said:
“IHS has a proven track record in telecoms infrastructure services and is the natural buyer of our business. 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.”
Issam Darwish, Executive Vice Chairman & Group Chief Executive Officer of IHS, said:
“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. 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.”
Transactions such as the acquisition of HTN have allowed IHS to create significant local technical and engineering employment opportunities throughout Africa. Over 95% of IHS’s employees are African and IHS employs close to 40,000 people directly and indirectly through its exclusive subcontractors.
About Helios Towers Nigeria Limited
HTN is a leading tower operator in Nigeria and the first independent tower operator in Africa. Currently operating in 34 of 36 states in Nigeria and the Federal Capital Territory, with over 1,200 towers and over 2,500 technology tenants, HTN is an ISO 9001:2008 certified company and is recognized by its customers as delivering best in class service and efficiency. For more information, visit: www.htntowers.com
For more information, visit: www.htntowers.com
About IHS Holding Limited
IHS is the largest mobile telecommunications infrastructure provider in Africa, Europe and the Middle East. Founded in 2001, IHS provides services across the full tower value chain – colocation on owned towers, deployment and managed services. Today IHS owns over 23,300 towers in Nigeria, Cameroon, Côte d’Ivoire, Zambia and Rwanda.
For more information, visit: www.ihstowers.com
+44 (0)75 00 70 6399
This announcement contains statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "plans", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. The forward-looking statements reflect the current views of HTN and IHS with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the HTN’s and IHS’s business, results of operations, financial position, liquidity, prospects, growth and strategies. The forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance.