African tower group IHS has turned to private equity groups in an attempt to raise more than US$200m, the FT reported. The company has hired Citibank to help identifying investors.
IHS did not immediately reply to requests for comment.
The FT report…
African tower group IHS has turned to private equity groups in an attempt to raise more than US$200m, the FT reported. The company has hired Citibank to help identifying investors.
IHS did not immediately reply to requests for comment.
The FT report states that parts of the amount to be raised would be used to finance more tower buys, referring to ongoing infrastructure sales in Uganda by France Telecom, and asset disposals by Etisalat in several countries as examples.
IHS CEO Issam Darwish was quoted saying that current PE investors can expect returns of 20% or more on their existing investments. A secondary listing at a stock exchange overseas was planned for the future.
