MTN to take full control of IHS Holding in deal that values tower operator at $6.2 billion

JOHANNESBURG: MTN Group has agreed to take full control of IHS Holding, buying the roughly 75% stake it does not already own ‌in a ⁠deal ⁠that values the tower operator at about $6.2 billion, the companies said on Tuesday.

MTN, Africa’s biggest mobile operator, will pay $8.50 per share in cash. The deal will be funded through the rollover of MTN’s existing stake of around 24% in IHS, ⁠as well ‌as about $1.1 billion in cash from MTN, roughly $1.1 billion from IHS’s balance sheet, ⁠and the rollover of no more than existing IHS debt, the companies said in a joint statement.