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Quantum Strategic Partners Increases Its Stake in Helios Towers Africa
- Client News
- July 11, 2014
Practices
Helios Towers Africa (HTA), the leading, independent telecommunications towers company in Africa, announced that it has raised $630 million in new equity financing from existing and new shareholders, and that it has agreed to acquire 3,100 towers in four countries in Africa from Bharti Airtel Limited, a leading global telecommunications services provider with operations in 20 countries across Asia and Africa. Existing investors, including Paul, Weiss client Quantum Strategic Partners (which is managed by Soros Fund Management LLC) and Helios Investment Partners, Albright Capital Management, RIT Capital Partners and the International Finance Corporation, all added to their current stakes and are now joined by new investors Providence Equity Partners and IFC African, Latin American, and Caribbean Fund. Following this latest injection of capital into the business, HTA has raised over $1.8 billion in external financing, since its inception in late 2009, to fund acquisitions and organic growth. As a result of the recently announced transaction with Bharti Airtel, HTA is, on an owned-tower basis, the largest tower company in Africa, with over 7,800 owned towers.
The Paul, Weiss team representing Quantum and Soros on this transaction included corporate partner Bruce Gutenplan and counsel Sarah Mudho; and tax partner David Sicular.