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CVC Capital Partners to acquire Myanmar tower operator

14 Dec 2020

Private equity firm CVC Capital Partners has agreed to purchase Myanmar tower infrastructure provider Irrawaddy Green Towers (IGT) in a deal worth around USD700 million, Reuters reports, citing sources familiar with the matter. IGT reportedly operates nearly 4,000 towers and claims to serve all of the nation’s major mobile network operators (MNOs), including Ooredoo Myanmar, Telenor Myanmar, Mytel and Myanmar Post and Telecommunications (MPT).

According to the unnamed sources, CVC was granted exclusivity after being shortlisted from potential buyers, and the sale process took just over a year to complete, with interested bidders enlisting local consultants and technical advisers to carry out site visits and due diligence.

The owners of IGT were named as Dubai-based Blu Stone Management and Lebanese holding company M1 Group.

Myanmar, Irrawaddy Green Towers (IGT), M1 Group (Lebanon)

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