https://www.engineeringnews.co.za

Eaton raises $350-million

4th May 2015

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

Telecommunications tower company Eaton Towers said it had attracted $350-million in funding from existing and new shareholders to support its expansion and acquisition plan in Africa.

Eaton CEO Terry Rhodes said additional equity had been sourced from controlling shareholder Capital Group Private Markets, as well as other existing shareholders, such as private equity fund DPI and Eaton management.

New shareholders included an Ethos Private Equity-led consortium and Standard Chartered Private Equity.

“We are very pleased that our existing and new shareholders support our strategy and vision to create a market-leading, independent, Pan-African tower company,” he said.

Meanwhile, Eaton secured its first independent tower deal with Orange Group subsidiary Mobinil, in Egypt, for the purchase, 15-year leaseback and management, operation and maintenance of over 2 000 of the mobile operator’s towers.

The deal would also see Eaton build additional sites.

Eaton planned to inject over $200-million into what it believed was Africa’s second-largest mobile market to deploy shared infrastructure and enable Egypt-based operators to provide better coverage and data services to their customers.

“Once the Mobinil deal – and the agreements with Bharti Airtel for six countries signed and announced last September – are completed, Eaton Towers will be operational in eight countries, representing the most diversified portfolio of shared infrastructure on the African continent,” Rhodes concluded.

Edited by Creamer Media Reporter

Comments

Showroom

Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.201 0.257s - 157pq - 2rq
Subscribe Now