Independent telecommunications tower infrastructure company Helios Towers plans to acquire 65 wireless telecommunications sites in South Africa through a deal between its South African subsidiary HTSA Towers and Eagle Towers.
The transaction aligns with the group’s strategy of broadening its geographic footprint, adding further towers to the portfolio acquired and built-out in South Africa since HTSA was established in 2019.
A significant majority of the tenancies of these sites are with Africa’s largest mobile network operators, enabling the provision of high quality, reliable and cost-effective open-access tower infrastructure in South Africa.
“This acquisition enables HTSA to increase its network reach and offering to customers in the Western Cape region of South Africa, and continues to demonstrate the group’s ability to execute on its strategy of both organic and acquisitive growth,” said Helios Towers CEO Kash Pandya.
“South Africa is a strategic market for Helios Towers, and we are keen to leverage our expertise in tower infrastructure to expand there, both organically and through acquisitions.”
The parties have also agreed to collaborate on future business.
“We are delighted to partner with Helios Towers on this transaction and look forward to our future business relationship,” said Eagle Towers CEO Avril van der Rheede.
The transaction is expected to close in the second quarter of 2020 and is subject to customary closing conditions.