ContractSale Agreement • December 2nd, 2024 • IHS Holding LTD • Communications equipment, nec
IHS Towers Signs Agreement to Sell Kuwait Operations to Zain Group December 02, 2024, London/Kuwait City: IHS Holding Limited, (NYSE: IHS) (“IHS Towers”), one of the largest independent owners, operators and developers of shared communications infrastructure in the world by tower count, has signed a definitive agreement to sell IHS Towers’ 70% interest in IHS Kuwait Limited (“IHS Kuwait”) including its approximate 1,675 sites and an additional approximately 700 sites managed in Kuwait to Zain Group. The transaction is subject to customary closing conditions, including government and regulatory approvals, and is expected to close in the first half of 2025. The terms of the transaction reflect an enterprise value1 of $230 million for the IHS Kuwait portfolio, implying a transaction multiple of 14.2x based on an estimated IHS Kuwait Adjusted EBITDA after leases2. This represents a significant premium compared to the current valuation multiple of the IHS Towers group. Entering into this ag
