MTN SA today announced a multibillion-rand sale and leaseback tower infrastructure transaction with IHS Towers, with the telco saying this brings to fruition one of the key assets within its asset realisation programme (ARP).
The operator says the transaction offer value amounts to approximately R6.4 billion and entails the sale and leaseback of 5 709 of MTN SA’s towers – comprising approximately 4 000 greenfield and 1 700 rooftop sites.
The MTN and IHS agreement comes on the back of an announcement earlier this year by MTN SA CEO Godfrey Motsa that the telco was reviewing the strategic and financial merits of a sale and leaseback deal for its portfolio of telecom towers.
Citigroup Global Markets and Standard Bank were then engaged by MTN to act as financial advisors for the proposed transaction and Webber Wentzel as legal advisors.
Former CEO Rob Shuter unveiled MTN’s asset realisation programme in March 2019, in which assets that were not of long-term strategic value…