IHS Towers completes LatAm exit
Infrastructure company IHS Towers completed the sale of assets in Brazil and Colombia to Macquarie Asset Management, a deal announced in February as being worth $952 million.
IHS noted the sale signals its exit from the Latin America region and is part of a strategy around “shareholder value-creation”.
Macquarie noted the transaction includes 8,700 sites in Brazil and 250 in Colombia, strengthening its position as a “long-term investor in the digital infrastructure sector” and “supporting the growth of critical infrastructure across Latin America”.
The investment company’s Brazil country manager Fernando Lohmann added the market he heads “continues to be one of the most attractive infrastructure markets globally, supported by growing demand for connectivity and long-term investment in critical services.”
“As digitalisation accelerates across Brazil and the broader region, resilient communications infrastructure will play an increasingly important role in supporting economic growth and social development”.
Completion of the sale comes as operator group MTN continues to work towards an acquisition of IHS Towers, a company it already owned around a quarter of before announcing its intent for a complete buyout in February.
The deal with MTN is still undergoing the regulatory process. Earlier this week, IHS shareholders formally approved the takeover bid at the company’s extraordinary general meeting.
In a stock market notification today (7 August), the operator group noted the sale of the IHS’s Latin American assets aligned with its intention “to acquire only IHS’s African assets”.
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