Zain Saudi inks SAR2.52bn tower deal with IHS

29 Mar 2019

Zain Group has announced that Zain Saudi Arabia (Zain KSA) has signed an agreement to sell and lease back the passive physical infrastructure of its mobile tower portfolio to IHS Holding Limited (IHS) for SAR2.52 billion (USD672 million). The deal was first agreed on in November 2018, though the original transaction value has been revised from SAR2.43 billion to SAR2.52 billion. Zain KSA will sell 8,100 towers with a lease back period of 15 years, with a five-year renewal option. Furthermore, the agreement includes the building of an additional 1,500 new towers over the next six years.

Saudi Arabia, IHS Holding, Zain Group, Zain Saudi Arabia