IHS Holding (IHS Towers) has signed an agreement to acquire Sao Paulo Cinco Locacao de Torres (SP5), a Grupo Torresur (GTS) portfolio company. SP5’s portfolio includes 2,115 telecoms towers across Brazil, with sites located in 25 of Brazil’s 27 states. SP5 will be integrated into IHS Towers’ existing Brazilian business with no employees transferring to IHS Towers under the acquisition.
The purchase price is USD315 million on a cash and debt free basis. The deal is subject to regulatory approvals and is expected to close in Q1 2022. Proforma for closing this portfolio, IHS Towers will own approximately 7,000 towers in Brazil, in addition to a secondary fibre network that passes approximately 6.4 million homes.
Sam Darwish, IHS Towers Chairman and CEO, commented: ‘The acquisition of GTS’ SP5 portfolio will be our fifth transaction since we entered the region two years ago and is a testament to our continued commitment to serving the connectivity demands of Latin America.’