Helios Towers has closed its acquisition of Airtel Africa’s towers in Malawi for a total of US$54.7 million.
The deal will grant Helios Towers a further 723 sites across Malawi, with the firm anticipating US$23 million in revenue after it has controlled these for a full year. Under the agreement, Airtel Malawi will lease the infrastructure for 12 years.
Helios Towers has made a number of acquisitions from Airtel Africa’s units; indeed, the Malawi agreement was announced at the same time as a similar deal with Airtel Madagascar which closed in November 2021.
While the companies also signed preliminary agreements that would have seen Helios acquire Airtel’s towers in Chad and Gabon, these subsequently expired. Last month both firms agreed to scrap the Chad deal, but the Gabon purchase has been revived.
Apart from its most recent acquisitions from Airtel, Helios Towers is owns tower infrastructure in Congo Brazzaville, Democratic Republic of Congo, Ghana, Senegal, South Africa and Tanzania.