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Closing of tower acquisition in Oman

Closing of tower acquisition in Oman

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Helios Towers, an independent telecommunications infrastructure company, has announced it has closed the acquisition of Omantel’s passive infrastructure assets in Oman, adding 2,519 sites to its portfolio for a gross consideration of US$495 million.

“We are delighted to close the acquisition of Omantel’s tower assets,” said Tom Greenwood, Chief Executive Officer, Helios Towers. “The transaction represents our first in the Middle East and we enter one of the fastest-growing markets for mobile infrastructure in the region with our valued local partner, Rakiza.

“Since announcing the transaction last year, we have built a talented local team and instilled our business excellence principles and we now look forward to working with Omantel, a great long-term partner and the other MNOs to drive the growth of mobile communications across Oman,” said Greenwood.

“We are pleased to complete the sale of our passive tower infrastructure in Oman,” said Talal Said Al Mamari, Chief Executive Officer of Omantel. “This aligns to our strategy to develop world class asset-light, strategic and advanced communication networks in Oman. This transaction helps Omantel to achieve effective deleveraging and focus on optimised capital structure for the company. We believe Helios Towers will bring in extensive savings and efficient passive infrastructure solutions and services for Omantel, which in turn will help efficient telecom sector operations and job growth in Oman.”

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