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With IHS Holding Co. Ltd. worth 2.52 billion riyals
Zain Saudi Arabia has signed an agreement for the sale and rental of tower infrastructure with IHS Holding Limited, the largest telecommunications operator in Europe, the Middle East and Africa ( EMEA) and the third largest tower company. Independent of the whole world.
The agreement is a milestone in terms of the expected financial and investment impact.
This decision was taken after Zain Saudi Arabia announced on November 28, 2018 that the board of directors of the company had approved the offer of IHS Holding Limited for the sale and lease of its towers. Communication.
The agreement was signed by Sultan Bin Abdul Aziz Al Dagithar, General Manager of Zain Saudi Arabia, and William Saad, Chief Operating Officer of IHS Holding Limited, at Zain Saudi Arabia headquarters in Riyadh.
"The agreement provides for the sale of infrastructure of 8100 towers, worth 2.52 billion riyals, and leasing for 15 years with the possibility of an extension , in addition to building 1,500 new towers over the next six years.
Proceeds from the sale will be used to fully reduce Murabaha financing, reduce the financial burden and focus on the core business of the company by developing technologies and services while saving on investment.
According to the terms of the agreement: "Zain KSA" will only sell infrastructure comprising only tower structure and related power sources, and all other wireless communication antenna equipment will remain the property of Zain, Saudi Arabia.
Zain Saudi Arabia revealed that this agreement was subject to the approval of the Commission for Information and Communication Technologies and the financing authorities. The company will announce any significant development in this regard.
Zain Saudi Arabia signs an agreement for the sale and re-rental of tower facilities
Already electronic newspaper
previously
2019-03-27
Zain Saudi Arabia has signed an agreement for the sale and rental of tower infrastructure with IHS Holding Limited, the largest telecommunications operator in Europe, the Middle East and Africa ( EMEA) and the third largest tower company. Independent of the whole world.
The agreement is a milestone in terms of the expected financial and investment impact.
This took place after Zain Saudi Arabia announced on November 28, 2018 that the board of directors of the company had approved the offer of IHS Holding Limited for the sale and lease of its towers. communication.
The agreement was signed by Sultan Bin Abdul Aziz Al Dagithar, General Manager of Zain Saudi Arabia, and William Saad, Chief Operating Officer of IHS Holding Limited, at Zain Saudi Arabia headquarters in Riyadh.
"The agreement provides for the sale of infrastructure of 8100 towers, worth 2.52 billion riyals, and leasing for 15 years with the possibility of an extension , in addition to building 1,500 new towers over the next six years.
Proceeds from the sale will be used to fully reduce Murabaha financing, reduce the financial burden and focus on the core business of the company by developing technologies and services while saving on investment.
According to the terms of the agreement: "Zain KSA" will only sell infrastructure comprising only tower structure and related power sources, and all other wireless communication antenna equipment will remain the property of Zain, Saudi Arabia.
Zain Saudi Arabia revealed that this agreement was subject to the approval of the Commission for Information and Communication Technologies and the financing authorities. The company will announce any significant development in this regard.
March 27, 2019 – 20 Rajab 1440
The time now is 05:52 PM
With IHS Holding Co. Ltd. worth 2.52 billion riyals
Zain Saudi Arabia has signed an agreement for the sale and rental of tower infrastructure with IHS Holding Limited, the largest telecommunications operator in Europe, the Middle East and Africa ( EMEA) and the third largest tower company. Independent of the whole world.
The agreement is a milestone in terms of the expected financial and investment impact.
This took place after Zain Saudi Arabia announced on November 28, 2018 that the board of directors of the company had approved the offer of IHS Holding Limited for the sale and lease of its towers. communication.
The agreement was signed by Sultan Bin Abdul Aziz Al Dagithar, General Manager of Zain Saudi Arabia, and William Saad, Chief Operating Officer of IHS Holding Limited, at Zain Saudi Arabia headquarters in Riyadh.
"The agreement provides for the sale of infrastructure of 8100 towers, worth 2.52 billion riyals, and leasing for 15 years with the possibility of an extension , in addition to building 1,500 new towers over the next six years.
Proceeds from the sale will be used to fully reduce Murabaha's financing, reduce the financial burden and focus on the company's core business by developing technologies and services while saving on investment.
According to the terms of the agreement: "Zain KSA" will only sell infrastructure comprising only tower structure and related power sources, and all other wireless communication antenna equipment will remain the property of Zain, Saudi Arabia.
Zain Saudi Arabia revealed that this agreement was subject to the approval of the Commission for Information and Communication Technologies and the financing authorities. The company will announce any significant development in this regard.
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