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BRIEF-Axiata Group's unit acquires about 13,000 towers in Pakistan
August 30, 2017 / 5:34 AM / 3 months ago

BRIEF-Axiata Group's unit acquires about 13,000 towers in Pakistan

Aug 30 (Reuters) - Axiata Group Bhd:

* Unit Edotco Group Sdn Bhd announced acquisition of about 13,000 towers in Pakistan

* Entry by Edotco Investments (Labuan) into subscription agreement with Dawood Hercules Corp for subscription of shares in Edotco Pakistan‍​

* The total transaction consideration for the proposed acquisition is USD940 million

* Edotco Group is acquiring the towers from pakistan Mobile Communications Limited together with Dawood Hercules Corp

* Deal comes with immediate financial accretion for Edotco

* Acquisition is scheduled to be completed in Q4 2017

* Consideration to be funded by external local debt of USD600 million & equity split of USD174 million by Edotco & USD166 million by DH Corp for their respective stakes

* Edotco Labuan and DH Corp will subscribe to 955.3 million and 1.74 billion of Edotco PK shares respectively for USD154.75 million and USD166.0 million Source :(bit.ly/2vDBWHS) Further company coverage:

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