Helios Towers Acquires Airtel Africa’s Passive Infrastructure Company in Madagascar

Helios Towers plc, the independent telecommunications infrastructure company, has announced it has closed the acquisition of Airtel Africa’s passive infrastructure company in Madagascar, adding 490 sites to its portfolio. The gross consideration for the transaction will be $52 million.

Helios Towers and Airtel Africa have also entered into a 12-year service agreement on the acquired assets, which, in-line with prior communications, are expected to deliver Adjusted EBITDA of $5 million in the first full year of ownership, with further growth anticipated through 135 committed build to suits over the next three years and colocation lease-up.

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