US EditionIHS Towers To Go Private In $6.2 Billion MTN Buyout - IHS Holding (NYSE:IHS), MTN Gr (OTC:MTNOY)
MTN offers $8.50 per share, a 36% premium over the 52-week average, to acquire IHS Towers and take it private, deepening their strategic partnership.
- On Tuesday, MTN Group agreed to buy IHS Holding for $8.50 per share in a $6.2 billion all-cash deal, with completion expected in 2026.
- MTN said the transaction aims to deepen its partnership with IHS Towers and lets shareholders crystallize value created since the March 12, 2024 strategic review, while Wendel receives $535 million liquidity for its 19% stake.
- The IHS Towers Board of Directors unanimously approved the deal, with MTN Group and Wendel pledging support, and over 40% of shareholders backing the merger; MTN plans to finance it using its existing stake, cash reserves, and debt.
- Completion hinges on shareholder and regulatory approvals, with the deal expected to close in 2026 and consolidate telecom infrastructure under MTN Group control.
- The bid reflects a 239% premium over IHS Towers' share price at the March 12, 2024 announcement, aligning with Wendel's asset rotation strategy in Africa's telecom sector.
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South African telecoms giant MTN acquires IHS Towers
MTN Group, Africa’s largest telecom operator, confirmed a deal to acquire IHS Towers, a strategic reversal for MTN, which previously spun off its tower portfolio to unlock capital and boost returns. The deal, which values IHS’ equity and debt at about $6.2 billion, paves the way for the tower group’s delisting from the New York Stock Exchange.IHS, which was founded in Lagos, operates nearly 29,000 towers across key MTN markets including Cameroon…
Nigeria: MTN Acquires IHS Towers in $6.2bn Deal, Regains Its Initial Towers
In a dramatic business twist, MTN has regained its old telecoms towers it initially sold to IHS Towers, as MTN Group, yesterday, reached an agreement to acquire IHS Towers, the largest independent towers, operators, and developers of shared communication infrastructure globally, at an enterprise value of approximately $6.2 billion.
Premium Times Nigeria
Business Elites AfricaMTN strikes deal to acquire IHS Towers for $6.2 billion
The transaction requires various approvals for it to reach closure, and HIS will give up its quoted company status by delisting from the New York Stock Exchange once the whole process is concluded. The post MTN strikes deal to acquire IHS Towers for $6.2 billion appeared first on Premium Times Nigeria.
The transaction involves the acquisition of approximately 8,860 towers, being the large majority located in Brazil
The South African group MTN Group Limited announced on February 17 an agreement to acquire 75.3% of the capital of IHS Holding Limited, as part of a cash offer of USD 2.2 billion, valuing IHS to USD 2.9 billion in equity. The transaction offers a premium of 9.7% on the 30-day weighted average price and brings the corporate value to USD 6.2 billion. MTN will only buy the African business of IHS, which operates 28,702 rounds in five key markets, a…
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