Zain Group receives USD 1.3 bln offer for Sudan business

News Wireless Sudan 9 DEC 2021
Zain Group receives USD 1.3 bln offer for Sudan business

Zain Group said it has received a non-binding purchase offer from Invictus Holding Co (IHL) to acquire its entire stake in Zain Sudan and Kuwaiti Sudanese Holding Co for USD 1.3 billion. In a statement to the Kuwaiti bourse, Zain said the board has decided to proceed with the due diligence process to provide the initial approval.

Zain said that the offer does not include Zain South Sudan. Zain said Invictus Holding was a subsidiary of Dal Group.

Categories:

Mobile

Companies:

Zain,  Zain Sudan,  Zain Group

Countries:

Sudan

Tags:

Wireless, M&A buyouts & divestments

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