Airtel Africa PLC First Closing of QIA Airtel Money Investment (2351J)
20 August 2021 - 4:00PM
UK Regulatory
TIDMAAF
RNS Number : 2351J
Airtel Africa PLC
20 August 2021
Airtel Africa plc
('Airtel Africa', or the 'Group')
First Closing of Airtel Money Minority Investment by QIA
London and Lagos, 20 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
transaction with Qatar Holding LLC, an affiliate of the Qatar
Investment Authority ('QIA'), previously announced by the Group on
30 July 2021.
With the conditions for first closing having now been met, QIA
has invested US$150m in a secondary purchase of shares in AMC BV
from a subsidiary of Airtel Africa, with a further US$50m to be
invested at second close upon further transfers of mobile money
operations into AMC BV.
Under the AMC BV shareholders' agreement, QIA is now entitled to
appoint a director to the board of AMC BV and has certain customary
information and minority protection rights.
As previously reported, the proceeds from this secondary stake
sale transaction, along with those of the secondary sale
transactions announced earlier with TPG and Mastercard, will be
used to reduce Group debt and invest in network and sales
infrastructure in the respective operating countries.
With today's closing with QIA, Airtel Africa will have received
a total of $375m from these three investors. Balancing proceeds
from the three investors amounting to $125m will be received upon
completion of the second close, taking cumulative proceeds from
minority stake sales in Airtel Money to a total of $500m.
-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
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