IHS Holding Limited announced on December 19, 2024, the completion of the sale of its 70% interest in IHS Kuwait Limited to Zain Group. This transaction included approximately 1,675 sites and an additional 700 sites managed in Kuwait. The completion of this sale is a key part of IHS Towers' ongoing strategic review.
The divestiture of its Kuwait operations aligns with the company's broader ambition to drive shareholder value and enhance its balance sheet. This strategic move allows IHS Towers to focus on core markets and optimize its asset portfolio. The proceeds from this sale are primarily intended to reduce company debt.
The successful completion of this transaction highlights the significant value contained within IHS Towers' portfolio. It also allows the company to further reduce its net leverage, contributing to a stronger financial position. Zain Group, the acquirer, is a leading telecommunications operator across the Middle East and Africa.
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