The board of IHS Holding Limited has backed MTN Group’s plan to take the telecom tower company private, setting the stage for a shareholder vote that could reshape ownership of one of Africa’s largest digital infrastructure providers.
In a Schedule 13E-3 filing to the U.S. Securities and Exchange Commission (SEC) on Tuesday, May 19, IHS confirmed that shareholders will vote on the proposed $2.2 billion acquisition at an extraordinary general meeting (EGM) in London later this year.
Under the deal, MTN Group, through its subsidiaries Mobile Telephone Networks (Netherlands) B.V. and Sub-Merger Co, will acquire all outstanding shares of IHS Holding for $8.50 per share in cash. If approved, IHS will become a wholly owned subsidiary of MTN and will be delisted from the New York Stock Exchange (NYSE).
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