Linklaters advises as American Tower buys African masts group Eaton Towers in $1.85bn deal
Linklaters has advised Standard Charted Private Equity on the sale of its minority interest in Eaton Towers Holding Limited which owns and operates more than 5,500 communications sites across five African markets (Burkina Faso, Ghana, Kenya, Niger and Uganda). The transaction constitutes a complete exit of Eaton Towers to American Tower Corporation for an aggregate price of $1,850,000,000.
Eaton Towers was founded in 2009 to provide shared telecoms infrastructure services to enable businesses and communities to become and stay connected in Africa. Acknowledged as an award-winning provider of customer service, Eaton Towers major customers include the mobile operating companies of Bharti Airtel, MTN, Vodafone, Orange and Etisalat.
The Linklaters team was led by corporate partner Richard Good and counsel Markjan van Schaardenburgh.
Linklaters has developed a strategic and long-term approach to the telecoms sector in Africa, advising on some of the largest, most complex deals in the sector, including on IHS’ acquisition of 1,269 mobile network towers in Rwanda and Zambia and Zain on the sale of its African mobile telecoms business in 15 jurisdictions to Bharti Airtel Limited for an enterprise value of $10.7bn.