Stay on Top of Recent M&A's with Breaking News Stories

Mergers & Acquisitions on Ulitzer

Subscribe to Mergers & Acquisitions on Ulitzer: eMailAlertsEmail Alerts newslettersWeekly Newsletters
Get Mergers & Acquisitions on Ulitzer: homepageHomepage mobileMobile rssRSS facebookFacebook twitterTwitter linkedinLinkedIn


Mergers & Acquisitions Authors: Pat Romanski, Bob Gourley, Jim Kaskade, David Skok, Liz McMillan

Related Topics: Mergers & Acquisitions on Ulitzer

News Feed Item

Letter of Intent Signed to Form Helios Towers Africa Ltd. with $350 Million of Equity Financing from Global Investor Group

A group of investors including Soros Strategic Partners LP, RIT Capital Partners plc and Lord Rothschild’s family interests, Albright Capital Management LLC, and funds advised by Helios Investment Partners LLP announced today the signing of a letter of intent to form Helios Towers Africa Ltd. (“HTA”).

HTA will build and maintain telecommunications towers and lease space on those towers to wireless telecommunications services providers across Africa. The company will execute a business plan that has been successfully deployed in Nigeria by Helios Towers Nigeria Ltd. (“HTN”), which was also formed by HTA’s lead sponsor, Helios Investment Partners. HTN, Africa’s first and largest independent telecom towers operator, recently secured a $250 million IFC-led investment to increase its Nigerian network to 2,000 tower sites nationwide. HTN will continue to focus its own operations on the Nigerian market where opportunities remain significant.

With the launch of HTA’s operations across Africa, operators will be able to outsource non-core activities and passive infrastructure, allowing them to focus capital and managerial resources on improving their core products and services. The deployment of HTA’s tower sites will increase telecommunications coverage, helping wireless operators roll out their services more economically and enabling the extension of affordable mobile services to semi-urban and rural areas. While Africa’s telecommunications sector has developed significantly in recent years, penetration remains at 45 percent, indicating the significant potential for growth that remains in the market.

With an initial equity commitment of $350 million upon launch, the financial flexibility of its shareholders, and the in-region operating experience of Helios Investment Partners, HTA anticipates establishing itself as the most experienced, operationally capable and best capitalized independent tower operator in Africa.

About the Investor Group

Soros Strategic Partners LP

Soros Strategic Partners LP ("SSP") is a private investment vehicle managed by Soros Fund Management LLC. SSP focuses on capital-intensive start-ups, buyouts, and growth equity transactions, and seeks to acquire world class assets that can generate strong and growing cash flows.

RIT Capital Partners plc

RIT Capital Partners (“RIT”) is a FTSE-listed investment trust. RIT invests in a widely diversified, international portfolio across a range of asset classes, both quoted and unquoted, including allocations to exceptional managers.

Albright Capital Management LLC

Albright Capital Management LLC (“ACM”) is an emerging markets investment firm consisting of a team of seasoned investment professionals and the principals of The Albright Stonebridge Group LLC, a leading global strategy firm. ACM utilizes networks and partnerships across the emerging markets to deliver attractive long-term returns while integrating environmental, social and governance factors.

Helios Investment Partners, LLP

Helios Investment Partners is an Africa-focused private investment firm. Helios manages funds and related co-investment entities on behalf of private and public institutions, global investment funds and high net worth individuals. Helios pursues a full range of investment types, including business formations, growth equity investments, structured investments in listed entities and large leveraged acquisitions across Africa.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.