Airtel Africa PLC First Closing of Airtel Money Minority Investments (2852H)
03 August 2021 - 12:10AM
UK Regulatory
TIDMAAF
RNS Number : 2852H
Airtel Africa PLC
02 August 2021
Airtel Africa plc
("Airtel Africa", or the "Group")
First Closing of Airtel Money Minority Investment
Transactions
London and Lagos, 2 August 2021: Airtel Africa, a leading
provider of telecommunications and mobile money services, with a
presence in 14 countries across Africa, today announces first
closing relating to the Airtel Money minority investment
transactions with both TPG's The Rise Fund and Mastercard,
previously announced by the Group on 18 March 2021 and 1 April 2021
respectively.
With the conditions for first closing having now been met, The
Rise Fund and Mastercard have invested US$150m and US$75m
respectively in a secondary purchase of shares in AMC BV from a
subsidiary of Airtel Africa, with a further US$50m and US$25m
respectively to be invested at second close upon further transfers
of mobile money operations into AMC BV.
Under the AMC BV shareholders' agreement., The Rise Fund is now
entitled to appoint a director to the board of AMC BV and both
Mastercard and The Rise Fund now have certain customary information
and minority protection rights.
As previously reported, the proceeds from these transactions
will be used to reduce Group debt and invest in network and sales
infrastructure in the respective operating countries.
-ENDS-
Enquiries
Airtel Africa - Investor Relations
Pier Falcione +44 7446 858 280
Morten Singleton +44 7464 830 011
Investor.relations@africa.airtel.com +44 207 493 9315
Hudson Sandler
Nick Lyon
Bertie Berger
airtelafrica@hudsonsandler.com +44 207 796 4133
About Airtel Africa
Airtel Africa is a leading provider of telecommunications and
mobile money services, with a presence in 14 countries in Africa,
primarily in East Africa and Central and West Africa.
Airtel Africa offers an integrated suite of telecommunications
solutions to its subscribers, including mobile voice and data
services as well as mobile money services, both nationally and
internationally.
The Group aims to continue providing a simple and intuitive
customer experience through streamlined customer journeys.
For more information visit www.airtel.africa
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCDZGGRZZVGMZM
(END) Dow Jones Newswires
August 02, 2021 10:10 ET (14:10 GMT)
Airtel Africa (LSE:AAF)
Historical Stock Chart
From Apr 2024 to May 2024
Airtel Africa (LSE:AAF)
Historical Stock Chart
From May 2023 to May 2024