MasterCard and The Rise Fund to join Airtel Africa as minority investors

AFRICA – Airtel Africa, a telecom company, has announced plans to unveil its two new minority investors, MasterCard and The Rise Fund, in agreed transactions valuing part of their business at US$2.65 billion. This was disclosed by the Chief Executive Officer, Airtel, Raghunath Mandava, in a statement issued to announce its full-year result. “In line with our strategy of unlocking value in our mobile money business, we will soon welcome two new minority investors (The Rise Fund and Mastercard) in agreed transactions which value this part of our business at…

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Airtel Africa secures US$200m from The Rise Fund to develop network and infrastructure

AFRICA – TPG-owned The Rise Fund will invest US$200 million in Airtel Mobile Commerce (AMC) BV, the mobile money business of Airtel’s Africa unit. The transaction is part of Airtel’s strategic asset monetization plan. The investment in AMC BV, a wholly-owned subsidiary of the Africa unit, will value the company at US$2.65 billion on a cash and debt-free basis. Proceeds from the stake sale will be used to slash Airtel’s debt, and invest in developing network and infrastructure across 14 countries in the region. As part of the transaction, The…

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