WENDEL : IHS Holding acquires 2,136 towers in Nigeria from Etisalat Nigeria

IHS Holding acquires 2,136 towers in Nigeria from Etisalat Nigeria

           
Wendel welcomes the acquisition by IHS Holding, the pan-African leader in telecoms towers, of 2,136 towers in Nigeria from Etisalat. Upon the conclusion of this transaction, IHS will manage over 6,540 towers in Nigeria. IHS Holding has operations in Nigeria, Cameroon, Côte d'Ivoire, Zambia and Rwanda. IHS currently manages over 10,000 towers in Africa, prior to this transaction.
Under the terms of this transaction, IHS has committed to investing a further $100 million in the towers acquired, on advanced generators, efficient batteries and alternative energy solutions to reduce diesel consumption and improve efficiency of grid use.
This transaction will further strengthen IHS's leadership position in Nigeria, Africa's largest economy in terms of GDP.
The transaction is scheduled to be finalized later this year.
IHS is successfully pursuing its development in Africa by persuading local operators to transfer their towers to IHS, which then makes them available to other operators looking to extend their network.
This transaction will contribute positively to IHS long-term value creation. Wendel is HIS's largest shareholder with more than 35% of the capital of the company.
                                                                

About Wendel
Wendel is one of Europe's leading listed investment firms. The Group invests internationally, in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Materis, Stahl and IHS in Africa. Wendel plays an active role as industry shareholder in these companies. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of Van Gansewinkel Groep in the Netherlands, exceet in Germany, Mecatherm and Parcours in France, Nippon Oil Pump in Japan and Saham Group in Africa. 
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor's ratings: Long-term: BBB-, stable outlook - Short-term: A3 since July 7, 2014.
Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" on March 23, 2012.

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