CVC buys Myanmar's Irrawaddy Green Towers for reported USD 700 million

News Wireless Myanmar 11 DEC 2020
CVC buys Myanmar's Irrawaddy Green Towers for reported USD 700 million

Private equity firm CVC Capital has agreed to buy Myanmar telecom tower company Irrawaddy Green Towers for USD 700 million, Reuters reported, citing sources familiar with the matter. “With CVC as a future shareholder, the company is poised for further growth and success for the benefit of the people of Myanmar”, Irrawaddy chairman Georges Makhoul said in a statement to Reuters. The statement did not provide any financial details about the deal.

Irrawaddy is a private company and owner of almost 4,000 towers located across Myanmar. The company is owned by Singapore-based Irrawaddy Tower Asset, whose main shareholders include Blu Stone Management and M1 Group. The sale marks the first investment in the country by CVC. 

Categories:

Mobile

Companies:

M1

Countries:

Myanmar

Tags:

Shareholders & subsidiaries, Network equipment, Corporate strategy, M&A buyouts & divestments

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