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Helios Towers agrees to acquire passive tower infrastructure portfolio for $575m
StockMarketWire.com
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Telecommunications infrastructure company Helios Towers said had agreed to acquire a passive tower infrastructure portfolio from telecom company Omantel for $575 million.
'Through the transaction, Helios Towers will establish its presence in the Middle-East region, becoming a leading independent tower infrastructure provider in Oman with 2,890 sites,' the company said.
'These assets were expected to deliver revenues of $59 million and adjusted EBITDA of $40 million in the first full year of operations,' it added.
Further growth was anticipated through colocation lease-up and 300 build-to-suit sites committed over the next seven years, for which $35 million growth capex was expected to be invested.
The deal represented an enterprise value of $615 million including the group's estimate of transactions costs and capitalised ground leases of $40 million.
Story provided by StockMarketWire.com
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