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Independent telecommunications infrastructure company Helios Towers, has announced the acquisition of Airtel Africa’s passive infrastructure company in Madagascar for $52 million, adding 490 sites to its portfolio.
According to a statement, 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 adjusted earnings before interest, taxes, depreciation, and amortization, (EBITDA) of US$5 million in the first full year of ownership, with further growth anticipated through 135 committed build to suits over the next three years and colocation lease-up.
Helios Towers established one of the most extensive tower portfolios across Africa. It builds, owns and operates telecom passive infrastructure, providing services to mobile network operators.
The company owns and operates telecommunication tower sites in Tanzania, Democratic Republic of Congo, Congo Brazzaville, Ghana, South Africa and Senegal.
Following recent acquisition agreements and subject to regulatory and certain shareholder approvals, Helios Towers expects to establish a presence in five new markets across Africa and the Middle-East over the next 12 months.
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