As a follow-on to the capital increase carried out on March 3rd, 2014, IHS Holding Ltd., Africa's largest independent telecommunications infrastructure company by number of towers managed, has completed a second tranche of this transaction for an additional US$130 million.
As previously, Wendel participated in this second tranche by exercising all of its subscription rights, thereby investing an additional US$47 million. Wendel's investment in IHS now totals US$475 million.
Following this transaction, Wendel remains IHS's largest shareholder with more than 35% of the capital of the company.
In March 2014, IHS announced that it received US$420 million in equity and US$70 million in debt from existing shareholders as well as Goldman Sachs, the IFC Global Infrastructure Fund and African Infrastructure Investment Managers. The Nigerian company raised more than US$1.5 billion in capital over the last 12 months.
IHS Towers is Africa's leading independent mobile telecommunications infrastructure provider headquartered in Nigeria. Founded in 2001, IHS provides services across the full tower value chain - managed services, deployment and site ownership. IHS Towers has operations in Nigeria, Cameroon, Côte d'Ivoire, Zambia and Rwanda. IHS manages over 10,500 towers in Africa and has built more than 3,500 for telecommunications operators.
Wendel SA is a France-based investor for the long-term as the majority or leading shareholder in listed or unlisted companies, taking the lead in order to accelerate the growth and development.