IHS Holding (IHS) has agreed to sell 100% of IHS Rwanda including its approximately 1,465 sites to Paradigm Tower Ventures. The transaction is subject to customary closing conditions, including government and regulatory approvals, and is expected to close in the second half of 2025. The terms of the transaction reflect an enterprise value of $274.5M, implying a transaction multiple of 8.3x adjusted EBITDA after leases. This represents a significant premium compared to the current valuation multiple of the IHS Towers group.
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