IHS Holding Limited to be Acquired by MTN Group Limited

Fried Frank is advising J.P. Morgan as financial advisor to IHS Holding Limited (IHS Towers), one of the largest independent owners, operators and developers of shared communications infrastructure in the world by tower count, on its agreement to be acquired by MTN Group Limited (MTN), a pan-African mobile operator, for $8.50 per ordinary share, in an all-cash transaction that values IHS Towers at an enterprise value of approximately $6.2 billion.

The transaction provides shareholders with an immediate and certain opportunity to realize the value generated since the announcement of IHS Towers' strategic review on March 12, 2024, which was initiated during a period of sustained geopolitical and macroeconomic volatility in key operating markets. Upon completion of the transaction, IHS Towers' ordinary shares will no longer be publicly listed and IHS Towers will become a wholly owned subsidiary of MTN. For more on the transaction, read IHS Towers' press release.

The Fried Frank team is led by corporate partners Philip Richter and Roy Tannenbaum and includes corporate associate Michael Yusko.

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