Helios Towers Africa has agreed to purchase 100% of Bharti Airtel International’s passive infrastructure business in the Democratic Republic of Congo (DRC) for an undisclosed amount. The divestment comprises approximately 950 towers and includes towers currently under construction in the DRC.
Helios builds and manages telecoms infrastructure, leasing it to operators across Africa. It has a network of over 5,500 towers in four markets. Bharti will have full access to the towers from Helios under a long term lease contract.
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The deal is part of a bid by Bharti to deleverage through debt reduction and reduce ongoing capital expenditure through the sale of all of its towers in Africa. The deal marks Bharti’s third round of asset shedding this year. In January, it agreed to sell its operations in Burkina Faso and Sierra Leone to Orange for US$900 million, and in March it entered into an arrangement to sell around 1,350 of its communications towers to American Tower Corporation in Tanzania for around US$180 million.
Partners Gautam Saha and Amrita Patnaik, along with associate Punita Gupta at AZB & Partners, are advising Bharti on the DRC deal. Vinson & Elkins advised Helios.
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