Airtel Africa announces strategic investment from Qatar Investment Authority
QIA to invest USD 200 million in Airtel Africa through primary equity issuance
Deepthi | Myequity news | Date : 30-01-2019 16:35:00 IST
Airtel Africa Ltd, a subsidiary of Bharti Airtel Ltd , a leading global telecommunications company with operations in 18 countries across Asia and Africa, today announced that Qatar Investment Authority ("QIA"), the sovereign wealth fund of the State of Qatar has agreed to invest USD 200 million through a primary equity issuance in the company. The proceeds will be used to further reduce Airtel Africa's existing net debt.
Airtel Africa said, "We are excited to welcome Qatar Investment Authority as a long term strategic equity partner. QIA is a respected global institution with a distinctive lineage and a robust global portfolio. We look forward to a long and fruitful partnership with QIA"
The investment from QIA is in continuation of the recent USD 1.25 billion investment by six leading global investors including Warburg Pincus, Temasek, Singtel and SoftBank Group International and others. Airtel Africa recently announced a newly constituted Board of Directors that included representatives from Bharti Airtel and other investors. This transaction will not involve any sale of shares by existing shareholders.
Qatar Investment Authority
said, "As a long-term global investor, we are delighted to invest in one of the leading telecommunication companies in Africa. QIA will look forward to supporting Airtel'svision in building a world class business in the African continent."
Airtel Africa Limited is a pan-African telecommunications company with operations in 14 countries across Africa. Its product offerings include 2G, 3G and 4G wireless voice and data services and mobile commerce through Airtel Money.