One of Africa’s major tower companies, Helios Towers, and Oman Telecommunications Company (Omantel), a leading mobile network operator in Oman, announced an agreement for Helios to acquire Omantel’s 2,890 tower portfolio. Paying US$575 million, U.K.-based Helios hopes to establish its presence in the Middle-East region.
The Oman towers are expected to deliver revenues of $59 million and adjusted EBITDA of $40 million in the first full year of operations with further growth anticipated through colocation lease-up and 300 build-to-suit sites committed over the next seven years.
The transaction is expected to close by the end of 2021, subject to approval by Helios Towers’ shareholders and customary completion conditions including approval from the Telecoms Regulatory Authority of Oman. Helios said, with the acquisition, the company expects to achieve its target of 12,000-plus towers for its international portfolio.
Commenting on the Transaction, Kash Pandya, Chief Executive Officer of Helios said: “We view Oman as a very attractive and supportive market for foreign investments, with strong growth and exciting future prospects. We will be further investing capital in Oman as we add to the tower count through greenfield BTS site development and co-locations, enhance the current tower portfolio and develop a talented local Omani team.”
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