Senegal: Helios Towers And Free Senegal Agree US$190M Infrastructure Asset Deal
Helios Towers, the telecoms infrastructure company with a significant presence across Africa, has agreed with Free Senegal - the country's second-largest mobile operator - to acquire its passive infrastructure assets for almost 190 million US dollars, according to industry news reporting.
Reporting by ITWeb Africa suggested that the deal should come to fruition by the end of the 1st quarter of 2021, and is expected to the fully financed by Helios' cash and existing debt facilities. The deal will also be subject to regulatory approval by the Senegalese authorities.
When completed, the deal will give Helios Towers the status of the largest independent tower provider in Senegal with more than 1200 sites. And according to the chief executives of Helios Towers, Mr Kash Pandya, "the agreement is aligned perfectly with his company's 2025 strategic ambitions and broadening its footprint within the African towers infrastructure market."
"We are acquiring a clear path to value creation, and we look forward to working with Free Senegal and the other MNOs over the coming years to further develop mobile infrastructure in Senegal," Pandya said.
Commenting, Mr Mamadou Mbengue, the Chief Executive Officer of Free Senegal said that the deal "will allow Free Senegal to expand its network mobile coverage further and further improve connectivity and infrastructure for the Senegalese people.