HTN and IHS established the mobile telecommunications infrastructure industry in Nigeria in the early 2000s and the transaction will be the first in-market consolidation in Africa.
HTN is a leading tower operator in Nigeria and the first independent tower operator in Africa. Currently operating in 34 of 36 states in Nigeria and the Federal Capital Territory, with over 1,200 towers and over 2,500 technology tenants.
HTN is also an ISO 9001:2008 certified company and is recognised and trusted by its customers for its delivery of best-in-class services and efficiency.
According to a statement from IHS, the transaction will allow the continued delivery of best-in-class solutions to customers and additional investments in infrastructure upgrades.
Under the terms of the transaction and subject to requisite regulatory approvals, IHS will acquire the entire issued share capital of HTN from HTN Towers Plc, which is ultimately owned by Helios Investment Partners, Pembani Group, First City Monument Bank and other minority shareholders.
Upon completion of the transaction, IHS will have full operational control of the underlying businesses and will market independent infrastructure sharing services to mobile network operators and internet service providers in Nigeria.