IHS Holding Ltd. has officially announced its decision to sell its 70% stake in IHS Towers' operations in Kuwait to Zain Group. This agreement includes approximately 1,675 tower sites and an additional 700 sites that are currently managed within the country.
This deal remains contingent upon standard closing conditions, notably receiving the necessary government and regulatory approvals, and is projected to be finalized during the first half of 2025.
The terms of the sale attribute an enterprise value of $230 million to the IHS Kuwait portfolio, highlighting a notable premium over the current valuation multiples of the broader IHS Towers group.
This agreement aligns with IHS Towers' ongoing strategic review aimed at enhancing shareholder value. It has been previously stated that the proceeds from this transaction will primarily be directed towards debt reduction for the company.
