Bharti Airtel has signed a deal with American Tower Corporation (ATC) for selling some 1,350 of its towers in Tanzania for roughly $180 million (Rs 1,194 crore appox)..AZB & Partners advised Bharti Airtel with a team led by Delhi Partners Gautam Saha and Amrita Patnaik..The New York office of Clifford Chance acted for ATC with a team led by Partner John Graham along with Associate Matthew Warner..With the latest deal with ATC, Bharti Airtel is estimated to have raked in nearly $2 billion from tower asset divestments in nine African markets..The sale exercise is part of Airtel’s strategy to sell all of its 15,000 towers in Africa and use the proceeds to cut back debt – close to $12 billion at the end of December, reports ET.
Bharti Airtel has signed a deal with American Tower Corporation (ATC) for selling some 1,350 of its towers in Tanzania for roughly $180 million (Rs 1,194 crore appox)..AZB & Partners advised Bharti Airtel with a team led by Delhi Partners Gautam Saha and Amrita Patnaik..The New York office of Clifford Chance acted for ATC with a team led by Partner John Graham along with Associate Matthew Warner..With the latest deal with ATC, Bharti Airtel is estimated to have raked in nearly $2 billion from tower asset divestments in nine African markets..The sale exercise is part of Airtel’s strategy to sell all of its 15,000 towers in Africa and use the proceeds to cut back debt – close to $12 billion at the end of December, reports ET.