EATON TOWERS ANNOUNCES SALE OF TOWER PORTFOLIO IN SOUTH AFRICA TO ATC SOUTH AFRICA

EatonTowers
EATON TOWERS MEDIA RELEASE
01 JUN 2016

Eaton Towers Group, a leading independent African tower company announced today that it has signed a definitive agreement to sell its South African towers to ATC South Africa for an undisclosed sum.

Terry Rhodes, CEO of Eaton Towers said: “The successful execution of our Build-to-Suit strategy over the last few years has resulted in a unique portfolio of some 300 towers serving some 600 tenants across South Africa. We have built a focused and profitable business and are very pleased that ATC South Africa, as the leading independent tower operator in South Africa, has agreed that our high quality towers make a natural ”˜win-win’ fit with their company. The sale, which represents about 5% of Eaton Towers’ total business, will allow us to invest further in the countries where Eaton Towers are market leaders and expand into new markets in Africa.”

The South African market of some 30,000 towers is still dominated by the telecoms and broadcast organisations, who own over 90% of the towers.

The transaction is subject to regulatory approval.