Source - SMW
Telecommunications infrastructure company Helios Towers said it had entered into an agreement with Free Senegal to acquire its passive infrastructure assets for €160m.
The deal, which was anticipated to close by the first quarter of 2021,  represented an enterprise value of €178m.
Under the terms of the deal, deferred consideration and growth capex of €40m  and €30m respectively, were expected to be invested over the next 5 years in relation to the rollout of 400 committed new build-to-suit sites.

  'This agreement is aligned perfectly with our 2025 strategic ambitions, broadening our footprint within the African towers infrastructure market,' Helios Towers said.  

'We are acquiring a market-leading independent position in Senegal with long-term contracted revenues and a clear path to value creation through additional organic tower development, uplifts in the tenancy ratio and improved operational effectiveness, all built on the foundation of 15-year contracts,' it added. 

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