Eaton Towers announces sale of tower portfolio in South Africa to ATC South Africa
Eaton Towers Group, a leading independent African tower company announced today that it has signed a definitive agreement to sell its South African towers to ATC South Africa for an undisclosed sum.
Terry Rhodes, CEO of Eaton Towers said: “The successful execution of our Build-to-Suit strategy over the last few years has resulted in a unique portfolio of some 300 towers serving some 600 tenants across South Africa. We have built a focused and profitable business and are very pleased that ATC South Africa, as the leading independent tower operator in South Africa, has agreed that our high quality towers make a natural ”˜win-win’ fit with their company. The sale, which represents about 5% of Eaton Towers’ total business, will allow us to invest further in the countries where Eaton Towers are market leaders and expand into new markets in Africa.”
The South African market of some 30,000 towers is still dominated by the telecoms and broadcast organisations, who own over 90% of the towers.
The transaction is subject to regulatory approval.