IHS Towers To Go Private In $6.2 Billion MTN Buyout
On Tuesday, IHS Holding Limited (NYSE:IHS) (“IHS Towers”) announced it has entered into a definitive merger agreement with MTN Group Limited (OTC:MTNOY). The all-cash transaction values IHS Towers at approximately $6.2 billion, with shareholders set to receive $8.50 per ordinary share under the terms of the deal.
The deal has been unanimously approved by the IHS Towers Board of Directors, which has recommended shareholder approval. This strategic move is poised to deepen the partnership between MTN, Africa’s largest mobile network operator, and IHS Towers, a leading digital infrastructure provider on the continent.
Closing Timeline and Financing Structure
The acquisition is expected to close in 2026, pending shareholder and regulatory approvals. MTN plans to finance the transaction using a combination of its current stake in IHS Towers, cash reserves, and existing debt.
With MTN and long-term shareholder Wendel supporting the deal, over 40% of shareholders have backed the deal. Upon completion, IHS Towers will become a wholly owned subsidiary of MTN, and its shares will no longer be publicly traded.
The merger agreement represents a 239% premium over IHS Towers’ share price at the time of its strategic review announcement in March 2024. The transaction also offers a 36% premium compared to the 52-week volume-weighted average price as of February 4, 2026.
Wendel’s Exit and Capital Allocation Strategy
The backing from long-time shareholder Wendel underscores the strategic significance of this merger, as the firm will receive full liquidity on its 19% stake in IHS Towers, translating to net proceeds of approximately $535 million.
This financial maneuver aligns with Wendel’s ongoing strategy of refocusing on direct investments in controlled, unlisted companies, as highlighted by their recent moves to generate approximately 1.65 billion euros through asset rotations.
IHS Price Action: IHS Holding shares were down 1.45% at $8.17 at the time of publication on Tuesday.
Photo via Shutterstock
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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