Airtel Africa acquires $1.25 billion investment from global investors
What you need to know:
- Six global investors, including Warburg Pincus, Temasek, Singtel, SoftBank Group International and others have agreed to invest $1.25 billion through a primary equity issuance in the company at a post-money equity value of approximately $4.4 billion.
Dar es Salaam/London /New Delhi. Six global investors will invest a total of have agreed to invest 1.25 billion through a primary equity issuance in Airtel Africa.
A statement from Airtel African, a copy of which was availed to The Citizen by Airtel Tanzania in Dar es Salaam on Wednesday, October 24, 2018, said the investment will be used to reduce Airtel Africa's existing debt of about $5 billion.
The money, according to the statement, will also be spent on growth of the telecommunication firm’s African operations.
The six investors include Warburg Pincus, Temasek, Singtel and SoftBank Group International.
"...Six leading global investors comprising Warburg Pincus, Temasek, Singtel, SoftBank Group International and others have agreed to invest $1.25 billion through a primary equity issuance in the company at a post-money equity value of approximately $4.4 billion," Airtel Africa said in a statement.
Airtel Africa subsequently intends an Initial Public Offering and use the proceeds primarily for further reduction of debt.
Airtel Africa, a UK incorporated subsidiary of Bharti Airtel.
Bharti Airtel Limited is a leading global telecommunications company with operations in 16 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 3 mobile service providers globally in terms of subscribers.
