By Staff Reporter
Helios Towers has closed its acquisition of Airtel Africa’s towers in Malawi for a total of US$54.7 million.
The deal will grant Helios Towers a further 723 sites across Malawi, with the firm anticipating US$23 million in revenue after it has controlled these for a full year. Under the agreement, Airtel Malawi will lease the infrastructure for 12 years.
Helios Towers has made a number of acquisitions from Airtel Africa’s units. Under the terms of the transaction, Airtel Africa’s subsidiary in Malawi will continue to develop, maintain and operate its equipment on the towers under separate lease arrangements, largely made in local currencies, with the purchaser.
Apart from its most recent acquisitions from Airtel, Helios Towers is owns tower infrastructure in Congo Brazzaville, Democratic Republic of Congo, Ghana, Senegal, South Africa and Tanzania.