IHS Africa awarded Middle East & Africa Deal of the Year
IHS, Africa’s largest independent infrastructure tower company by number of towers managed, has won the Middle East & Africa Deal of the Year Award at the TelecomFinance Awards held in London on 30 January 2013
IHS won the award for its US$284 million acquisition of 1,758 mobile network towers in Cote d’Ivoire and Cameroon from MTN Group in October 2012. A member of the independent panel of judges who selected the winners said; ’this deal enabled IHS to consolidate its position as a first tier player on the competitive African tower stage.’
Under the acquisition terms, MTN becomes the anchor tenant on towers acquired by IHS through a sale- and -leaseback agreement. IHS will manage the mobile network towers and other passive infrastructure. The agreement also included a commitment between the parties for IHS to rollout a build-to-suit programme to support MTN’s future tower requirements in both countries.