IHS Towers completes tower sale deal with MTN in South Africa

IHS Towers, one of the largest independent owners, operators, and developers of tower infrastructure, has completed the acquisition of 5,701 towers from MTN South Africa for a cash consideration of ZAR6.4 billion.

The deal will see IHS Towers provide Power Management Services to MTN SA on approximately 13,000 sites, including the acquisition portfolio, across South Africa.

The acquired assets as well as the provision of Power Management Services across MTN SA’s portfolio are expected to deliver Revenue and Adjusted EBITDA of approximately $192 million and $85 million, respectively, in the first full year of operations, according to the company.

This transaction has received the necessary regulatory approval from the South African Competition Commission.