Helios Towers, an independent telecommunications infrastructure company, recently announced that acquisition of Omantel’s passive tower infrastructure portfolio of 2,890 sites, for a cash consideration of $575 million.
Through the Transaction, Helios Towers will establish its presence in the Middle-East region, becoming a leading independent tower infrastructure provider in Oman with 2,890 sites.
These assets 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 (BTS) sites committed over the next seven years, for which $35 million growth capex is expected to be invested.
It is anticipated that the Transaction will 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 Towers has received irrevocable undertakings to vote in favour of the acquisition at a General Meeting from certain shareholders representing over 50% of issued share capital at the time of announcement.
Through the acquisition, which establishes us as a leading tower operator in Oman, we expect to achieve our Group target of 12,000+ towers well ahead of plan, while also strengthening our business through further hard-currency revenues and diversification into one of the fastest growing markets in the Middle-East.
Kash Pandya, CEO of Helios Towers
We will be further investing capital in Oman as we add to the tower count through greenfield BTS site development and colocations, enhance the current tower portfolio and develop a talented local Omani team.
Talal Said Al Mamari, CEO of Omantel
The sale of our passive tower infrastructure is in line with our strategy to develop world class asset light, strategic and advanced communications networks in Oman and to generate the greatest value and efficiency for the benefit of our shareholders, customers and partners.
