Helios Towers expands to Oman
Helios Towers enters into agreement to acquire 2,890 sites from Omantel for $575 million
Following hot on the heels of their four-part deal with Airtel Africa, Helios Towers have announced their first acquisition outside Africa. On May 11 Helios Towers announced the signing of a deal with Omantel, the largest mobile network operator in Oman, for Helios Towers to acquire Omantel’s passive tower infrastructure portfolio of 2,890 sites, for a cash consideration of $575mn. This represents an enterprise value of $615 million including the Group’s estimate of transactions costs and capitalised ground leases of $40 million. The deal includes a further 300 committed build-to-suit sites, and is subject to the usual regulatory closures.