HardwareSouth AfricaTechnology

Delta arranges lucrative South America towers deal

DELTA PartnersJOHANNESBURG, (CAJ News) – DELTA Partners has  acted as the sole strategic and financial advisor to Millicom International and its subsidiary, Telefonica, on the sale and lease-back of circa 1 400 wireless communications towers to American Tower Corporation in Paraguay.
Millicom International offers digital and telecom services in Africa under Telefonica. Delta Partners is a leading advisory and investment integrated platform with a footprint in South Africa.
As a result of the latest transaction, Tigo Paraguay will receive approximately US$125 million, in cash.
The sale process kicked off in Q4 2016 with Delta Partners organising and carrying out a competitive process while contacting the largest TowerCo’s that had previously signalled interest in the portfolio.
The entire process from the commencement till signing of the binding agreements lasted approximately six months which included various rounds of bids and a process fully managed by Delta Partners.
Commenting on Delta Partners’ role in the transaction, Kamal Daswani, Director, Delta Partners, said the agreement, supported by immense team effort, culminated in a satisfactory result for all parties.
“We are very pleased to have been able to support Millicom International and Tigo Paraguay and act as the sole facilitator in the sale and lease-back of the largest and finest portfolio of towers available in Paraguay, which is one of the more attractive economies in South America.”
CAJ News

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