Airtel Nigeria announces offer to buy out minority shareholders

News Wireless Nigeria 4 OKT 2021
Airtel Nigeria announces offer to buy out minority shareholders

Airtel Africa has announced that its subsidiary Airtel Nigeria has initiated a process to buy back the 8.27 percent minority shareholdings at NGN 55.81 per share. The total consideration is estimated to be NGN 61.24 billion, using an exchange rate of NGN 413.38 per US dollar, assuming that all the minority shareholders decide to tender their shares.

This represents an open offer to all shareholders. A further announcement will be made in due course, the statement said. 


Categories:

Mobile

Companies:

Airtel Nigeria,  Airtel Africa

Countries:

Nigeria

Tags:

Shareholders & subsidiaries, Wireline, Wireless, Enterprise, Financial funding, M&A buyouts & divestments

Related Articles

NIGERIA 3 DEC 2021

Airtel Africa completes NGN 61 bln buy-out of Nigerian shareholders

Airtel Africa announced it has completed the buyout of minority shareholders in Airtel Nigeria. The company now owns 99.96 percent of Airtel Nigeria, its largest subsidiary. Airtel Africa acquired 8.22 percent of the shares in the minority buyback at a total consideration of NGN 61 billion.

NIGERIA 15 NOV 2021

Airtel Nigeria obtains approval in principle for super agent licence

Airtel Africa has announced that its subsidiary Airtel Mobile Commerce Nigeria has been granted approval in principle by the Central Bank of Nigeria to operate as a super agent. The super agent licence is distinct from the Payment Service Bank ('PSB') licence, for which Airtel received approval in principle on 04 November.

NIGERIA 8 NOV 2021

Airtel Africa receives approval in principle to operate service bank in Nigeria

Airtel Africa said that its Smartcash subsidiary has been given approval in principle to operate a payment service bank business in Nigeria. Final approval is subject to the company satisfying certain standard conditions within six months. Airtel Africa CEO Segun Ogunsanya said the group will now work closely with the Central Bank to meet all its conditions to receive the operating licence and commence operations.

AFRICA 28 OKT 2021

Airtel Africa upgrades dividend policy as H1 revenue grows 25%

Airtel Africa said its revenue increased by 25.2 percent to USD 2.27 billion in the six months to 30 September, with double-digit growth across all regions. Underlying EBITDA in the fiscal first half grew by 35.2 percent to USD 1.09 billion in reported currency, and the underlying EBITDA margin improved to 48.3 percent from 44.7 percent in 2020, an increase of 360 basis points led by both revenue growth and improved operational efficiencies. Net profit more than doubled to USD 335 million from USD 145 milli

NIGERIA 6 OKT 2021

Airtel Nigeria appoints Efeurhobo as CCO

Airtel Nigeria has announced the appointment of Godfrey Efeurhobo, its current home broadband director, as chief commercial officer with effect from 18 October. He will report to the CEO and MD as a member of the executive council and will be responsible for Airtel Nigeria's commercial team comprising regional operations staff, central sales and distribution, retail, customer service, brand and marketing.

NIGERIA 5 OKT 2021

Airtel Nigeria brings out Family Plan

Airtel Nigeria has introduced the Family Plan, letting customers share their data allowance with five family members or close friends. Dinesh Balsingh, chief commercial officer, said Airtel Nigeria aims to promote togetherness.

AFRICA 29 JUL 2021

Airtel Africa Q1 revenue rises 31% on favourable comparables, subscribers up 8%

Airtel Africa has reported a 30.7 percent rise in revenue in the first quarter to 30 June of the 2022 financial year, to USD 1.11 billion from USD 851 million a year earlier. This was partly because of favourable prior-year comparables, with constant currency growth at 33.1 percent. The customer base grew by 8.4 percent year on year to 120.8 million from 111.5 million, and was up 15.9 percent excluding Nigeria, which has been affected by new SIM registration rules.

NIGERIA 9 JUL 2019

Airtel Africa lists in Nigeria

Airtel Africa has completed its listing on the Nigerian Stock Exchange, in a flotation that valued the mobile operator at NGN 1.36 trillion. This makes the bourse's third-largest stock by market capitalization, Reuters reported.  

Just In

20 DEC 15:08

Dialog Axiata to offer Starlink satellite service across Sri Lanka

20 DEC 14:51

Sri Lanka raises LKR 10 billion in 5G spectrum auction

20 DEC 14:00

Vi introduces Niyo Zero Forex Markup Card for travelers

20 DEC 13:39

True reshuffles executive team

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.