African towerco Eaton Towers has agreed to buy 2,000 towers from Egyptian mobile operator Mobinil for some E£1bn (US$131.1m), Eaton Towers co-Founder and Director Terry Rhodes confirmed to TelecomFinance.
In a project worth US$200m, Eaton will purchase…
African towerco Eaton Towers has agreed to buy 2,000 towers from Egyptian mobile operator Mobinil for some E£1bn (US$131.1m), Eaton Towers co-Founder and Director Terry Rhodes confirmed to TelecomFinance.
In a project worth US$200m, Eaton will purchase a third of Mobinil’s 6,000 towers. This includes a 15-year leaseback contract for the operation and maintenance, and additional build-out of new sites.
Mobinil was advised by Lazard, while Eaton’s own team carried out the deal.
Financing
Eaton will finance the deal through a mixture of equity and debt, said Rhodes, who added that his company is currently in negotiations with local banks to raise Egyptian pounds.
Mobinil is nearly 100% owned by Orange.