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.
Sign up to our
Subscribe to the latest investing news by entering your email address below
You can opt out at any time.
For five days a week you will get
- The latest company news
- Insight into investment trends
- Round-up of director's buys and sells
- Articles from Shares magazine
Plus more useful investment content and occasional promotional offers.
UK 350 Risers and Fallers
Tweets not available.