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Millicom International Cellular to Sell Tower Portfolio to Helios Towers Africa
Practices
In the first large sale-leaseback of communications towers to be signed in the Democratic Republic of Congo (DRC), Paul, Weiss client Millicom International Cellular S.A. announced today that its subsidiary in the DRC, Oasis (Tigo DRC), has agreed to sell its portfolio of communications towers to Helios Towers DRC (HTD), a subsidiary of Helios Towers Africa (HTA). The transaction, expected to close in the third quarter of 2011, will provide Tigo DRC with cash up front and enable it to retain a significant minority interest in HTD. This ground-breaking transaction marks the third such deal Millicom has signed with Helios in Africa.
The Paul, Weiss team representing Millicom includes corporate partners Bruce A. Gutenplan and T. Robert Zochowski and counsel Bruce Gruder; and real estate partner Mitchell L. Berg.